Jeffery Hildebrand, one of the wealthiest donors to Donald Trump’s presidential campaign, has backed an all-cash $2bn takeover offer for an ammunition unit being sold by Vista Outdoor.
Hildebrand and his JDH Capital family office are leading an offer for Kinetic, which owns the Remington ammunition brand, raising the prospect of a multiway battle for the unit, according to three sources briefed on the matter.
Vista said on Monday it had been approached by an unnamed “alternative party” on June 7 with an “indication of interest” for Kinetic. However, the outdoor group said its company directors would continue to recommend a $1.96bn deal from Czechoslovak Group (CSG) and also rejected an improved proposal from investment group MNC Capital Partners to acquire the entire company for more than $3bn.