Vista Outdoor (VSTO) Stock Trades Up, Here Is Why

Adam Hejl /
2024/06/26 3:45 pm EDT

What Happened:

Shares of sports and recreation company (NYSE:VSTO) jumped 12.3% in the afternoon session after MNC Capital Partners raised its offer to acquire the company (Vista Outdoor). The new proposal is an all-cash offer to acquire VSTO for $42 per share, or about $3.2 billion, up from the previous offer of $39.50. The new offer represents more than a 30% premium compared to the closing price of VSTO's stock a day before the deal was announced. MNC added that "it cannot see any possible basis or reason to further raise its offer."

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What is the market telling us:

Vista Outdoor's shares are somewhat volatile and over the last year have had 8 moves greater than 5%. But moves this big are very rare even for Vista Outdoor and that is indicating to us that this news had a significant impact on the market's perception of the business.

Vista Outdoor is up 24.3% since the beginning of the year. Investors who bought $1,000 worth of Vista Outdoor's shares 5 years ago would now be looking at an investment worth $4,375.

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