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MNC Capital Partners, L.P. ("MNC") announced today that it is committed to its fully financed $42 per share all cash offer for Vista Outdoor Inc (NYSE:VSTO), and that it will not reduce the $42 per share price.
MNC also said that it is willing to make a tender offer directly to Vista's shareholders at $42 a share, if Vista approves of MNC making the offer and allows shareholders to decide whether to accept it.
MNC's Mark Gottfredson said, "We want Vista shareholders to know that we are committed to our offer and will not reduce the $42 price. To demonstrate that commitment we are willing to make a tender offer, and hope that Vista would agree to our making the offer so shareholders can decide."
While Vista's approval would be needed for MNC to make a tender offer, Vista would not be required to recommend that shareholders tender.
Posted In: VSTO
