Vista Outdoor stockholder vote delayed amid competing offers and new developments

Rather than a clarifying vote Tuesday by its stockholders, Vista Outdoor saw its business dealings become more complex.

A vote had been scheduled on the Czechoslovak Group's $2.15 billion offer to purchase Vista Outdoor’s ammunition-making operations, which include Lewiston’s CCI/Speer.

But the vote was called off Tuesday in light of other developments, according to a Vista Outdoor news release. Those include:

MNC Capital of Dallas, which had a bid to buy all of Vista Outdoor's operations rejected in early July, has seemingly returned to the mix. MNC made the public statement Friday that “if there were a reason or basis to increase our offer, including Vista engaging with us and providing one, we would increase our offer price,” according to Vista's news release.

Also, the Czechoslovak Group is now considering acquiring all of Vista Outdoor's holdings — its outdoor brands and its ammunition operations, according to the news release. The European company would potentially bring on partners in order to make that move.

And there will be "continued consideration" of Vista's plans to separate its operations into companies called Revelyst and The Kinetic Group, according to the news release. Revelyst would be comprised of recreational equipment brands that include Camelbak, Camp Chef, Fox Racing and Simms Fishing, while The Kinetic Group would include ammunition brands, including Lewiston’s CCI/Speer, Federal, Remington and HEVI-Shot.

Some Vista stockholders are in favor of selling to the Czechoslovak Group while others want to explore "strategic alternatives," said Mike Callahan, chairperson of Vista's board of directors, in the news release.

"In addition to engaging with CSG and MNC and its private equity partner, we also look forward to reviewing any other strategic alternative for Vista Outdoor that would maximize value for stockholders," Callahan said.

But the news release also said the board of directors "continues to recommend" that Vista Outdoor stockholders vote in favor of the Czechoslovak Group's purchase offer. The stockholders vote has been rescheduled for the morning of Sept. 13.

The vote was originally planned for May 16 and has been delayed several times in the last two-plus months.

MNC Capital's proposal that was rejected July 8 was to buy Vista's operations for $42 per share, along with other considerations. There was no indication Tuesday of an updated offer from MNC Capital.

Baney may be contacted at mbaney@lmtribune.com or (208) 848-2262. Follow him on X @MattBaney_Trib.