Vista Outdoor provides update on review of strategic alternatives

Vista Outdoor announced that, as part of the board of directors’ ongoing review of strategic alternatives, the company and its board, and their respective financial and legal advisors, are continuing to engage with MNC Capital and its private equity partner and advisors with respect to MNC’s revised proposal to acquire Vista Outdoor for $43.00 per share in cash, which was submitted on September 6. The company has not made any determination with respect to MNC’s revised proposal. In a letter sent by MNC to the Vista Outdoor Board on September 9, MNC acknowledged the board’s engagement, thanking the board for its “time, effort and responsiveness.” The board intends to continue to constructively engage with MNC. In light of the company’s ongoing discussions and review of strategic alternatives, Vista Outdoor will adjourn the special meeting of stockholders which is scheduled to be held at 9:00 am on September 13 to 9:00 am on September 27. The board continues to recommend Vista Outdoor stockholders vote in favor of the proposal to adopt the merger agreement with CSG at the special meeting.