Remington's ammunition arm losing support from shareholders of sale to foreign company

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Vista was set to approve the sale of its ammunition company to CSG after the Committee on Foreign Investment approved the deal on June 25. Now the support for the sale is up in the air.

Vista Outdoor’s second-largest active shareholder, Gates Capital Management, announced it is opposing the $2.1 billion sale of The Kinetic Group to foreign-based Czechoslovak Group , citing a better all-cash offer. Vista was set to approve the sale of its ammunition company to CSG after the Committee on Foreign Investment approved the deal on June 25, but now the support for the sale is up in the air. Gates Capital Management announced that it believes the sale of the entirety of Vista to U.S.

On top of the option to sell to MNC, Gates Capital Management would also support Vista’s original plan of a tax-free spin-off separating The Kinetic Group from the outdoor branch Revelyst to consider what is in the best interest of Vista’s shareholders. Currently, MNC has an all-cash offer of $3.2 billion on the table for Vista. The potential buyer has been adamant since making the offer that this is the final revised proposal it will make.

 

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Belgique Dernières Nouvelles, Belgique Actualités