09:28 AM EDT, 09/18/2024 (MT Newswires) -- Vista Outdoor ( VSTO ) said Wednesday its board has recommended that shareholders vote for the transaction with Czechoslovak Group to acquire its Kinetic Group unit and invest in Revelyst.

The board also rejected a revised proposal from MNC Capital to acquire Vista for $43 per cash in share, Vista said.

The company said MNC's proposal undervalues Vista as it implies an enterprise value of about $1.9 billion for Kinetic Group and about $1.2 billion for Revelyst.

Vista said that in comparison, Czechoslovak Group agreed to acquire Kinetic Group for $2.15 billion and to purchase shares representing 7.5% of standalone Revelyst for $150 million, valuing Revelyst at $2 billion.

MNC didn't immediately respond to a request for comment from MT Newswires.

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