On July 23, 2024, Czechoslovak Group which recently increased its offer for Vista Outdoor Inc.'s The Kinetic Group to $2.15 billion, reaffirmed its strong commitment to successfully completing the acquisition. Czechoslovak Group expressed its view that its fully financed bid maximizes the value that will be received by the Company shareholders, and that the transaction can be completed in early August. Czechoslovak Group stated that its offer has been approved by U.S. regulators, including the multi-agency Committee on Foreign Investment in the United States (CFIUS).

Czechoslovak Group added that proxy advisory firm Glass Lewis & Co. has issued an updated analysis recommending that the Company shareholders vote for the Czechoslovak Group acquisition at the Company?s special meeting of stockholders, scheduled for July 30, 2024. In its report, Glass Lewis notes that the transaction is the best option to maximize shareholder value, for the Company shareholders.

This recommendation was published prior to Czechoslovak Group's increased offer to $2.15 billion, which has further enhanced the value that would be delivered to shareholders.