11:40 AM EDT, 07/12/2024 (MT Newswires) -- Vista Outdoor's ( VSTO ) board was asked by shareholder TIG Advisors to reconsider its position and pursue MNC Capital's proposed all-cash offer of $42 per share, according to a letter sent by TIG Advisors to Vista's board Friday.

TIG Advisors, which owns about 532,000 Vista shares, said it intends to vote against the pending sale of The Kinetic Group to Czechoslovak Group.

"The Board has expressed concerns about the execution risk of the MNC offer. We urge the Board to negotiate appropriate protections," TIG Advisors stated in its letter. "The Board, acting as fiduciaries to shareholders, should choose to execute the MNC transaction given it is in the best interest of all shareholders."

Vista and Czechoslovak Group did not immediately respond to MT Newswires' request for comment.

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