History
2023: CZ Group bought Vista Outdoor for $1.74 billion
On November 22, 2023, firearms manufacturer Colt CZ Group SE announced the purchase of Vista Outdoor, which sells Remington rifles, among other things. The transaction amount is approximately $1.74 billion.
As part of the deal, Colt is willing to pay $30 for each Vista Outdoor security, representing a premium of 16% over that company's share price as of that date ($25.75). Colt plans to carry out the deal with cash and its own shares. Vista Outdoor's board agreed to consider the proposal.
Vista Outdoor is an American developer, manufacturer and seller of sports and outdoor products. The company offers products under brands such as Bushnell, CamelBak, Bushnell Golf, Foresight Sports, Fox Racing, Bell Helmets, Camp Chef, Giro, Simms Fishing, QuietKat, Stone Glacier, Federal Ambition, Remington Ammunition, etc.
In mid-October 2023, Vista Outdoor entered into an agreement on the sale of the small arms segment (Sporting Products) to the Czech industrial holding Czechoslavak Group a.s. (CSG). The amount of this transaction is estimated at $1.91 billion. The transaction was reported to be completed in calendar year 2024, subject to shareholder approval, required regulatory approvals and other customary closing conditions. However, if Vista Outdoor's board agrees to Colt's offer, the contract with CSG would have to be terminated.
Shares of Vista on November 22, 2023, when the CZ deal became known, rose 2.2% in price. Since the beginning of 2023, the company's capitalization has increased by 5.7%, to $1.5 billion.[1]
Notes
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |