A vote on Czechoslovak Group’s $1.91 billion proposal to buy the ammunition-making operations of Vista Outdoor, including CCI/Speer in Lewiston, has been postponed.

The stockholders of Vista Outdoor are now set to vote on the deal at a meeting that starts at 7 a.m. PDT June 14, instead of 7 a.m. May 16.

Vista Outdoor announced the change in a news release this week where it confirmed it was in talks with a second company, Dallas-based MNC Capital, about acquiring Vista Outdoor for $37.50 per share.

“(Vista Outdoor) advised MNC it expects MNC to deliver an improved economic proposal following (Vista Outdoor) providing MNC with access to certain diligence information,” according to a Vista Outdoor news release issued Monday.

Vista Outdoor has been updating its employees through memorandums, including one issued Monday.

“The board does not believe the offer from (MNC Capital) is superior to the transaction with (Czechoslovak Group),” according to the memorandum. “In particular, MNC’s proposed offer undervalues the (Vista Outdoor’s recreational products) business.… It’s important to reiterate there can be no assurance the discussions with MNC will result in either an increased offer price or any transaction with MNC.”

Vista Outdoor declined MNC’s offer to acquire Vista Outdoor for $35 per share in early March. MNC Capital upped its offer to $37.50 per share at the end of March.

Vista Outdoor has consistently stated it supports the Czechoslovak Group transaction.

The recreational brands of Vista Outdoor such as Camelbak and Camp Chef would be spun off into a separate public company called Revelyst if the Czechoslovak Group deal closes.

The possibility of Vista Outdoor’s ammunition plants becoming part of a private, foreign company has sparked a national debate.

Vista Outdoor’s ammunition brands, including CCI/Speer, Federal, Remington and HEVI-Shot, together are the largest ammunition maker in the United States.

The Czechoslovak Group’s bid to buy them is being reviewed by the Committee on Foreign Investment in the United States.

At the end of March, the committee allowed Vista Outdoor and Czechoslovak Group to voluntarily withdraw and resubmit a joint voluntary notice to provide more time to review the deal. The committee could have reached a final decision on the matter at that stage.

Vista Outdoor’s ammunition plants have been described as a “national asset” by MNC because of their importance as suppliers to federal law enforcement and municipal police departments.

The MNC deal “would allow the business to stay American-owned with a long-term U.S. owner who is aligned with the interests of America’s national security and consumers,” according to a February letter to Vista Outdoor’s board from MNC’s Mark Gottfredson.

MNC “is a group of 10 U.S.-based investors led by” Gottfredson, a former Vista Outdoor board member, according to a Tuesday story in the Minneapolis Star Tribune.

Vista Outdoor announced two ammunition agreements involving law enforcement in the latter part of last year.

The Department of Homeland Security, U.S. Immigration and Customs Enforcement (ICE) selected Federal Premium Law Enforcement Ammunition as its contract awardee for its 223 Rem. rifle ammunition, according to an October news release from Vista.

ICE has more than 20,000 law enforcement and support personnel in more than 400 offices in the U.S. and around the world.

The maximum quantity during a five-year ordering period is 28 million rounds, according to the news release.

In November, Vista Outdoor announced that the Miami-Dade Police Department, the eighth-largest police department in the U.S., would be using Speer 9 mm Gold Dot ammunition for its duty pistols through a contract Vista Outdoor secured.

Williams may be contacted at ewilliam@lmtribune.com or (208) 848-2261.