07:08 AM EDT, 06/26/2024 (MT Newswires) -- Vista Outdoor ( VSTO ) received an increased all-cash takeover offer of $42 per share, or about $3.2 billion, from MNC Capital Partners.

MNC announced the revised offer on Wednesday and said it represents a premium almost 25% to Vista Outdoor ( VSTO ) stock's Tuesday closing price. MNC's previous offer was $39.50 per Vista Outdoor ( VSTO ) share, according to the statement.

The revised offer is not subject to any financing conditions and MNC said it expects Vista Outdoor's ( VSTO ) board to "move forward expeditiously" with a merger agreement on its proposed terms. MNC also said it expects to reach a definitive agreement "in a matter of days."

Shares of Vista Outdoor ( VSTO ) were up more than 10% premarket.

Price: 37.43, Change: +3.65, Percent Change: +10.81