Colt CZ Group SE (SEP:CZG) submits an unsolicited proposal to acquire remaining 97.6% stake in Vista Outdoor Inc. (NYSE:VSTO) on November 22, 2023. Pursuant to the acquisition, which Colt CZ and Vista Outdoor would be combined in a cash and stock transaction that Colt CZ states would attribute a value of $30 to each share of Vista Outdoor common stock. The transaction include a $900 million share repurchase to be executed following closing of the proposed transaction.

Vista Outdoor?s Board of Directors has not made any determination with respect to the Colt CZ Proposal. Vista Outdoor?s Board of Directors will carefully review the Colt CZ Proposal, in accordance with its fiduciary duties and its obligations under the existing merger agreement with CSG, in consultation with its financial and legal advisors.