(Reuters) – Vista Out of doors (NYSE:) has once more delayed a particular shareholder assembly to vote on Czechoslovak Group’s (CSG) $2.15 billion provide for the agency’s ammunition unit and a stake in its out of doors division.
The assembly, which was scheduled to happen on Sept. 27, has been delayed to Oct. 9, the corporate stated on Tuesday.
The revised date could be the final attainable earlier than the take care of CSG terminates on Oct. 15, Vista stated.
The corporate didn’t instantly reply to a request for additional touch upon why the assembly was delayed.
Vista had delayed the assembly six occasions earlier than Tuesday’s transfer because it fielded a number of affords since October final yr, when CSG first bid for the corporate’s ammunition unit, a month after it determined to separate its two enterprise segments.
Funding agency MNC Capital entered the fray in March with a $2.9 billion provide for your entire firm, and elevating it to a remaining provide of greater than $3.2 billion, or $43 per share.
Vista’s board has rejected all of MNC’s affords, calling them undervalued.
Earlier this month, Vista stated CSG would additionally purchase a 7.5% stake within the sporting gear unit, Revelyst, for $150 million, whereas revising the deal for the ammunition unit to $2.15 billion.
The board has constantly really helpful shareholders to vote in favor of the CSG transaction.