March 25 (Reuters) - Investment firm MNC Capital said on

Monday it has raised its all cash bid to acquire sporting and

outdoor products maker Vista Outdoor ( VSTO ) to $3 billion from

$2.9 billion.

Shares of the company were up about 4% in premarket trading

after the New York Times DealBook first reported the improved

offer.

The investment firm is offering $37.50 per share for all

of Vista's shares, up from its earlier bid of $35. The new offer

represents a premium of 16% to Vista's close on Friday.

The Anoka, Minnesota-headquarted company had

rebuffed

MNC Capital's offer of $2.9 billion in March, stating the

bid "significantly undervalued" the company.

Vista is in the middle of

selling

its sporting goods business to privately held Czech defense

and civil manufacturing firm Czechoslovak Group (CSG) in a $1.91

billion deal that was announced last October.

Vista did not immediately respond to Reuters' request

for comment.