ANOKA, Minn.--(BUSINESS WIRE)--$VSTO #bettertogether--Vista Outdoor Inc. (NYSE: VSTO) ("Vista Outdoor" or "we") today issued the below statement in response to MNC Capital to set the record straight:
MNC Capital ("MNC") misled investors today by claiming that it needs Vista Outdoor's approval in order to make a tender offer. We want to set the record straight -- MNC is not subject to any restrictions from Vista Outdoor that would require Vista Outdoor to consent to MNC making an unsolicited tender offer.
For the avoidance of doubt, the Vista Outdoor Board has already rejected MNC's proposal. Vista Outdoor does not support MNC's proposal and firmly believes that the transaction with Czechoslovak Group a.s. ("CSG") is superior. Vista Outdoor continues to strongly recommend the CSG transaction, which can close in early August after receipt of Vista Outdoor stockholder approval at the July 30 special meeting.