Vista Outdoor, Inc. has confirmed receipt of information delivered by MNC Capital in response to the company’s request for additional information required to assess MNC’s revised indication of interest, pursuant to which MNC expressed its final effort to acquire Vista Outdoor in an all-cash transaction for $42.00 per share.
The Vista Outdoor Board stated in a release, “it is carefully reviewing the additional information provided by MNC, which includes certain documentation with respect to MNC’s financing arrangements, along with MNC’s Final Indication, in accordance with its fiduciary duties and its obligations under the existing merger agreement with Czechoslovak Group a.s. and in consultation with its financial and legal advisors.” The Vista Outdoor Board also said it “remains committed to acting in the best interests of Vista Outdoor stockholders.”
The Vista Outdoor Board, while not making any determination concerning the Final Indication, including the $42.00 per share price offer or the adequacy of the information provided, within the framework contemplated by the existing merger agreement with CSG, which remains in effect and continues to recommend Vista Outdoor stockholders vote in favor of the proposal to adopt the merger agreement with CSG at the Vista Outdoor special meeting of stockholders.
Morgan Stanley & Co. LLC is the sole financial adviser to Vista Outdoor. Cravath, Swaine & Moore LLP is the sole legal adviser to Vista Outdoor. Moelis & Company LLC is the financial adviser to the independent directors of Vista Outdoor. Gibson, Dunn & Crutcher LLP is acting as legal adviser to the independent directors of Vista Outdoor.
Image courtesy Vista Outdoor, Inc.
