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MNC Capital Partners has increased its all-cash offer to acquire Vista Outdoor (NYSE:VSTO) to $42 per share, or about $3.2 billion, sending the sporting and outdoor goods company’s shares up in early trade.
MNC Capital said, it believes that its acquisition of Vista (VSTO) is in the best interests of shareholders, employees and national security, and hence, decided to “make one final effort for such acquisition” by increasing its June 6 proposal from $39.50 per share all cash to $42.00 per share all cash. “MNC said that it cannot see any possible basis or reason to further raise it.”
The offer comes after Vista Outdoor (VSTO) confirmed on Monday it has amended its agreement with Czechoslovak Group to sell Kinetic Group for a revised offer of $2B, a $40M increase from the previous offer.
MNC Capital Wednesday said that its revised proposal is all cash, and has no regulatory issues and is not subject to any financing conditions. MNC further said it holds secured debt and equity commitments more than sufficient to close the transaction and stands ready to provide those to Vista (VSTO).
Vista (VSTO) rose +13.97% to $38.50 in premarket trade.