Late yesterday news came that Vista Outdoor Inc. cleared a major hurdle in its plans to sell off its ammunition segment, known as The Kinetic Group, to Czechoslovak Group, or CSG, after the Committee on Foreign Investment in the United States (CFIUS) cleared the proposed acquisition of The Kinetic Group business after the Committee determined “there are no unresolved national security concerns.” The closing of the transaction remains subject to receipt of the approval of Vista Outdoor’s stockholders and other customary closing conditions. The special meeting of Vista Outdoor stockholders to consider and vote on a proposal to adopt the merger agreement with CSG is scheduled to be held virtually on July 2, 2024, at 9:00 a.m. Central Time. The Vista Board recommends stockholder approval based partly on a $2 billion purchase price, representing a $90 million increase from the original $1.91 billion purchase price.
