By Don Nico Forbes


Vista Outdoor said it will delay its special shareholder meeting after acknowledging MNC Capital's improved takeover bid for the maker of ammunition and outdoors equipment.

The company said Thursday the meeting will now take place on July 23 instead of July 2, granting time to engage with shareholders prior to a vote.

On Wednesday, MNC raised its offer for Vista to $42 a share, or $3.2 billion, compared with its prior offer of $39.50 a share.

However, on June 24, Vista accepted a $2 billion offer from Czech defense company Czechoslovak Group for its sporting-goods business Kinetic Group, which has been the focus of a bidding war since the company decided to spin it off in 2022.

Vista said the board will review MNC's offer in accordance with its fiduciary duties under the existing agreement with Czechoslovak Group.


Write to Don Nico Forbes at don.forbes@wsj.com


(END) Dow Jones Newswires

06-27-24 0751ET