Monness Crespi downgraded Vista Outdoor to Neutral from Buy after the company announced it has entered into a definitive agreement with funds managed by Strategic Value Partners to sell Revelyst in an all-cash transaction based on an enterprise value of $1.125B and also entered into an amendment to the merger agreement with Czechoslovak Group a.s. to acquire The Kinetic Group, increasing the purchase price for the Kinetic Group to $2.225B. The firm thinks higher bids are unlikely, the analyst tells investors.
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