Another firm has made an offer to purchase Vista Outdoor’s ammunition-making plants, including Lewiston’s CCI/Speer operations.
According to a news release, an unnamed U.S.-based private investment firm has proposed buying the Kinetic Group factories for $2 billion on a “cash-free, debt-free basis.”
In addition to CCI/Speer, The Kinetic Group includes Federal, Remington and HEVI-Shot, which combined, makes The Kinetic Group the largest ammunition maker in the U.S.
According to the news release, the U.S. firm “is prepared to execute definitive agreements” no later than Friday.
Vista Outdoor made the “indication of interest” from the unnamed firm public on the same day it announced it had rejected an “unsolicited indication of interest” from Dallas-based MNC Capital to acquire all of Vista Outdoor for $39.50 per share.
Additionally, Vista Outdoor postponed from Friday to July 2 a stockholder vote on an offer from the Czechoslovak Group to acquire the Kinetic Group for $1.96 billion. It’s the second time the vote has been postponed.
In addition to the shareholder vote July 2, the Czechoslovak Group’s purchase, if approved, needs approval from the Committee on Foreign Investment in the United States.
