KKR, the private equity firm that owns Academy Sports, has submitted a formal proposal to buy optics maker Bushnell, according to a New York Post report. Two other suitors, including an international outdoor company, also reportedly made formal offers.
The report said Bushnell was looking to get as much as $1 billion in an auction run by Morgan Stanley (MS) and RW Baird. MidOcean Partners, the private equity firm that owns Bushnell, may have to cut its asking price by about $200 million.
Final bids for Bushnell are due next week.
