(Reuters) -Funding agency MNC Capital has raised its provide to amass sporting and outside items firm Vista Out of doors (NYSE:) to $39.50 per share, or over $3 billion, the funding agency stated on Thursday.

Shares of Vista Out of doors rose 7.4% to $36.99 in premarket buying and selling.

Vista Out of doors had rejected MNC Capital’s proposal final week, regardless of partaking with the funding agency to extend its bid of $37.50 per share, saying it undervalued the corporate and its efficiency gear enterprise, Revelyst.

The outside recreation merchandise maker had stated on the time there was considerably extra worth if Revelyst had been to be a standalone firm.

MNC Capital stated on Thursday its newest provide values Revelyst at over $1 billion, in contrast with Vista’s $570 million it disclosed in an investor presentation on Feb. 1.

Vista didn’t instantly reply to a Reuters request for remark.

The outside items firm has a market capitalization of $2.01 billion, in accordance with LSEG information. MNC’s revised provide represents a 27% premium to when it first proposed to purchase Vista on March 1 for $2.90 billion, or $35 per share.

Vista had introduced in 2022 it could separate its outside and sporting merchandise segments into two separate entities. But it surely has but to completely full the separation of its outside merchandise phase, which incorporates helmets and water bottles.

Final month, the corporate had agreed to promote its sporting merchandise enterprise to Czechoslovak Group for $1.96 billion

Vista had additionally rejected a $30-a-share cash-and-stock merger provide from Czech gunmaker Colt CZ Group in November, saying it undervalued the corporate.