financetom
Business
financetom
/
Business
/
Vista Outdoor delays shareholder meet to vote on CSG deal again
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Vista Outdoor delays shareholder meet to vote on CSG deal again
Oct 3, 2024 12:58 AM

(Reuters) - Vista Outdoor ( VSTO ) has again delayed a special shareholder meeting to vote on Czechoslovak Group's (CSG) $2.15 billion offer for the firm's ammunition unit and a stake in its outdoor division.

The meeting, which was scheduled to take place on Sept. 27, has been delayed to Oct. 9, the company said on Tuesday.

The revised date would be the last possible before the deal with CSG terminates on Oct. 15, Vista said.

The company did not immediately respond to a request for further comment on why the meeting was delayed.

Vista had delayed the meeting six times before Tuesday's move as it fielded multiple offers since October last year, when CSG first bid for the company's ammunition unit, a month after it decided to separate its two business segments.

Investment firm MNC Capital entered the fray in March with a $2.9 billion offer for the entire company, and raising it to a final offer of more than $3.2 billion, or $43 per share.

Vista's board has rejected all of MNC's offers, calling them undervalued.

Earlier this month, Vista said CSG would also buy a 7.5% stake in the sporting gear unit, Revelyst, for $150 million, while revising the deal for the ammunition unit to $2.15 billion.

The board has consistently recommended shareholders to vote in favor of the CSG transaction.

(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Sriraj Kalluvila)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Gazprom says it will stop gas exports to Moldova from January 1
Gazprom says it will stop gas exports to Moldova from January 1
Dec 28, 2024
MOSCOW, Dec 28 (Reuters) - Russian energy giant Gazprom said on Saturday it would suspend gas exports to Moldova from 0500 GMT on January 1 due to unpaid debt by Moldova. It said the company reserved the right to take any action, including terminating the supply contract with Moldova. The supply suspension is a precursor for a total shutdown of...
China to cut import tariffs on some recycled copper and aluminium raw materials
China to cut import tariffs on some recycled copper and aluminium raw materials
Dec 27, 2024
SHANGHAI (Reuters) - China will reduce import tariffs on ethane and certain recycled copper and aluminium raw materials from next year, the government said on Saturday. The Ministry of Finance announced adjustments to various import tariff categories, effective Jan. 1, aimed at increasing imports of high-quality products, expanding domestic demand and promoting high-level opening-up, it said in a statement. Provisional...
Vanguard reaches deal with US bank regulator over control of bank stakes
Vanguard reaches deal with US bank regulator over control of bank stakes
Dec 27, 2024
Dec 27 (Reuters) - The U.S. Federal Deposit Insurance Corporation has reached a deal with Vanguard that will strengthen the rules under which the investment management giant can take big stakes in large U.S. financial institutions, according to an agreement published by the watchdog on Friday. The agreement gives the FDIC more ability to monitor Vanguard's investment activities and spells...
Elon Musk vows 'war' over H-1B visa program amid rift with some Trump supporters
Elon Musk vows 'war' over H-1B visa program amid rift with some Trump supporters
Dec 28, 2024
WEST PALM BEACH, Florida, Dec 28 (Reuters) - Elon Musk, the billionaire CEO of Tesla and SpaceX, vowed to go to war to defend the H-1B visa program for foreign tech workers late on Friday amid a dispute between President-elect Donald Trump's longtime supporters and his most recently acquired backers from the tech industry. In a post on social media...
Copyright 2023-2026 - www.financetom.com All Rights Reserved