Czechoslovak Group (CSG), owned by Czech businessman Michal Strnad, has increased its offer for Vista Outdoor's Kinetic Group sporting goods and firearms division by $50 million to a total of $2.15 billion.

Vista shareholders are expected to vote on the transaction on July 30. The cash consideration to Vista shareholders has also been increased by $3 per share. Once the transaction closes, Vista shareholders will receive $24 per share in cash and one common share of the new company, Revelyst.

The extraordinary general meeting was rescheduled from July 2 to July 30. Vista confirmed its financial outlook for the current fiscal year, with expected revenues between $2.665 billion and $2.775 billion and an adjusted EBITDA between $410 million and $490 million.

Czechoslovak Group, a global holding company, operates mainly in the engineering, automotive, railway, aerospace, and defense industries, employing over 10,000 people worldwide.

Source: www.echo.cz

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