June 10 (Reuters) - Vista Outdoor said on Monday it had rejected a fresh takeover proposal by investment firm MNC Capital, which raised its offer for the sports and outdoor products maker to $39.50 per share, or over $3 billion last week.

Vista Outdoor has already rejected a raised offer from MNC Capital in May after engaging with the investment firm to increase its bid from $37.50 per share. (Reporting by Granth Vanaik in Bengaluru)