Another company is seeking a deal with Vista Outdoor.
According to a news release, Vista Outdoor received an “unsolicited proposal” from Colt CZ Group SE that involves the two companies combining in a stock and cash transaction.
The latest offer follows one made last month by the Czechoslovak Group to buy Vista Outdoor’s ammunition-making operations for $1.91 billion in an all-cash acquisition that would close next year pending approval.
Czechoslovak Group is reportedly the fourth-largest ammunition maker in the European Union.
According to a news release, the Vista Outdoor board of directors is committed to acting in the best interest of shareholders as it reviews the Colt CZ proposal, and plans to follow its fiduciary duties under the existing agreement with Czechoslovak Group in consultation with its financial and legal advisers.
Vista Outdoor employs around 1,400 at it’s Sporting Products facility in Lewiston.
