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Sale of Vista Outdoor Kinetic Group (Federal, Speer, CCI, Remington, Alliant) has been delayed due to a bidding war - https://www.thehighroad.org/index.php?threads/no-more-2400.933754/page-3#post-12977791
And it's final. Vista Outdoor Kinetic Group (CCI, Federal, Remington, Speer, Alliant) is being sold to CSG - https://news.vistaoutdoor.com/newsr...Combination-with-CSG-Transaction/default.aspx
"... sale of Vista Outdoor ammunition unit, Kinetic Group (Alliant powders, CCI, Federal, Remington, Speer), to CSG received Committee on Foreign Investment regulatory approval in June of 2024 - https://www.reuters.com/markets/dea...e-approval-sporting-unit-sale-csg-2024-06-25/
In July, after rejecting multiple offers from MNC Capital (Based out of Canada), Vista Outdoor agreed to sell Kinetics Group to CSG with shareholder vote approving the sale. But since, MNC Capital entered into a bidding war with CSG and shareholder vote has been delayed with higher offer of $43/share from $42/share - https://seekingalpha.com/news/41484...te-on-ammunition-sale-after-increased-mnc-bid
Next shareholder vote will be on September 27 unless it is delayed again.
But in the end, Kinetic Group will be sold to either CSG or MNC Capital."
And it's final. Vista Outdoor Kinetic Group (CCI, Federal, Remington, Speer, Alliant) is being sold to CSG - https://news.vistaoutdoor.com/newsr...Combination-with-CSG-Transaction/default.aspx
10/4/24 - Vista Outdoor Inc. (“Vista Outdoor” or “the Company”) (NYSE: VSTO) today announced it has ... entered into an amendment to the merger agreement with Czechoslovak Group a.s. (“CSG”) to acquire The Kinetic Group, increasing the purchase price for the Kinetic Group to $2.225 billion.
... “We look forward to creating long-term value at The Kinetic Group as part of the CSG portfolio,” said Michal Strnad, CEO and Owner of CSG. “The Kinetic Group has a deep heritage of delivering high-quality, innovative products and we will provide significant resources, investment and expertise to continue growing the business and serving its customers with leading ammunition products. We are confident CSG’s acquisition of the Kinetic Group is the best outcome for Vista Outdoor stockholders, employees of the Company and the American economy.”
Transaction Details
Vista Outdoor and CSG have received all regulatory approvals required under the merger agreement for the CSG Transaction and are prepared to close the CSG Transaction prior to the end of 2024, subject to receipt of stockholder approval and satisfaction of other customary closing conditions. CSG and Vista Outdoor have mutually agreed to extend the termination date of the CSG merger agreement to December 11, 2024.
In connection with the announcement ... the Company will adjourn the special meeting of stockholders currently scheduled for October 9, 2024.
Additional details will be filed with the U.S. Securities and Exchange Commission.
About CSG
The global industrial and technological group CSG, owned by Czech entrepreneur Michal Strnad, has key production facilities in the Czech Republic, Slovakia, Spain, Italy, India, the UK, and the U.S. and exports its products worldwide. CSG is continuously investing into the development of its companies while expanding in its core business areas. The Group includes, for example, the Czech truck manufacturer Tatra Trucks, the world's leading manufacturer of small caliber ammunition Fiocchi, and the Czech radar manufacturer Eldis. More than 10,000 employees work in the companies included in the CSG group and in their associated companies. In 2023, the Group's consolidated sales reached USD 1.73 billion. CSG's main fields of activity are the engineering, automotive, rail, aerospace, and defense industries and small caliber ammunition production. CSG's products can be found on all continents thanks to its strong export orientation.
CSG's companies in Europe are major suppliers of tanks, artillery systems and high caliber ammunition for Ukraine which is co-financed also by the U.S. and other NATO member states.