10:08 AM EDT, 07/26/2024 (MT Newswires) -- Vista Outdoor ( VSTO ) shareholder Gates Capital Management said Friday that it believes MNC Capital Partners' $42 all-cash offer to acquire Vista "is superior" to the proposed sale of the company's Kinetic Group unit to Czechoslovak Group.

On Tuesday, Czechoslovak Group reaffirmed its "strong commitment" to completing its proposed $2.15 billion acquisition of Vista's Kinetic Group.

Gates Capital, which owns a 9.6% stake in Vista Outdoor ( VSTO ), said Friday that "we strongly believe that the proposed transaction from CSG is not in the best interest of shareholders and that the company should immediately begin negotiating a merger agreement with MNC."

Vista Outdoor ( VSTO ) shares were up 1.4% in recent Friday trading.

Price: 38.47, Change: +0.59, Percent Change: +1.56