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Vista Outdoor Asks MNC Capital to Increase $3 Bln Buyout OfferVista Outdoor ( NYSE:VSTO ) has urged MNC Capital to increase its offer to acquire the company, stating that the current bid of $3 billion undervalues its performance gear business. In March, MNC Capital had raised its all-cash bid to acquire Vista to $37.50 per share, equivalent to $3 billion, after the company had rejected its earlier offer of $2.90 billion. Shares of Vista ( NYSE:VSTO ) rose by 5% in early trading. Vista ( NYSE:VSTO ) is already in discussions to sell its sporting goods unit, which includes its ammunition business, to Czechoslovak Group (CSG), a privately held Czech defense and civil manufacturing company, for $1.91 billion. The company has adjourned its special meeting of shareholders to June 14 from May 16 given the talks with MNC, and continues to recommend its stockholders vote in favor of the CSG deal. Vista ( NYSE:VSTO ) has stated that MNC's proposal undervalues its performance gear business, named Revelyst. The company's board does not consider the revised offer to be superior to the transaction with CSG. Vista remains confident that its merger with CSG will receive clearance from the Committee on Foreign Investment in the United States. In March, Vista ( NYSE:VSTO ) had said that MNC's $2.90 billion takeover offer did not take into account the significant shareholder value that was expected to be created through the separation of its outdoor products and sporting goods segments. The company had also turned down a $30-a-share cash-and-stock merger offer from Czech gunmaker Colt CZ Group last November on similar grounds. Technical Outlook Vista ( NYSE:VSTO ) stock is up 6% before the fundamental depicting a bullish symmetrical triangle on the monthly price chart. Further accentuating the bullish trend is the Relative Strength Index (RSI) which sits at 64.67
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by DEXWireNews