09:49 AM EDT, 07/10/2024 (MT Newswires) -- MNC Capital said on Wednesday that it continues to be committed to its $42 per share all-cash offer for Vista Outdoor ( VSTO ) and will remain open for the Vista Board to accept.

While it wouldn't lower the buyout price, MNC Capital said that it has no intention of further increasing its offer price and believes that Vista's failure to engage on the offer isn't in the best interest of its shareholders.

Vista Outdoor ( VSTO ) on Wednesday, however, urged shareholders to vote in favor of a bid from Czechoslovak Group for the company's Kinetic Group, and indicated it wouldn't negotiate with MNC Capital even if its shareholders fail to back Czechoslovak Group's offer.

MNC's final indication of interest to acquire Vista Outdoor ( VSTO ) in an all-cash transaction for $42.00 per share was unanimously rejected by the board as it "fundamentally undervalues" the company, Vista Outdoor ( VSTO ) said.

Vista Outdoor ( VSTO ) didn't immediately respond to MT Newswires' request for comment.

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