Nov. 27—A second company is seeking a deal with Vista Outdoor, the parent company of ammunition maker CCI/Speer, one of Lewiston's largest employers. Vista Outdoor received an "unsolicited proposal" from Colt CZ Group SE that involves the two companies combining in a stock and cash transaction where each share of Vista Outdoor common stock would be assigned a value of $30, according to a news release from Vista Outdoor issued the evening before Thanksgiving. As of Oct. 30, Vista Outdoor had 58,071,728 shares of common stock outstanding, according to documents filed with the U.S. Securities and Exchange Commission. The Vista Outdoor board of directors is committed to acting in the best interest of shareholders as it reviews the Colt CZ proposal, according to the Vista Outdoor news release. Vista Outdoor brands for recreation such as Camelbak, Camp Chef and Simms are not part of the CSG deal.

Source: Forbes November 28, 2023 00:02 UTC