Remington's ammunition arm losing support from shareholders of sale to foreign company

Vista Outdoor’s second-largest active shareholder, Gates Capital Management, announced it is opposing the $2.1 billion sale of The Kinetic Group to foreign-based Czechoslovak Group (CSG), citing a better all-cash offer.

Vista was set to approve the sale of its ammunition company to CSG after the Committee on Foreign Investment approved the deal on June 25, but now the support for the sale is up in the air. Gates Capital Management announced that it believes the sale of the entirety of Vista...