Bass Pro's Acquisition of Cabela's Approved by Regulators
Antitrust regulators have signed off on Springfield-based Bass Pro Shops’ $4 billion acquisition of fellow hunting-fishing outfitter Cabela’s.
Cabela’s, based in Nebraska, said Wednesday the Federal Trade Commission had ended its investigation into the deal earlier this week.
The Associated Press reports Cabela's shareholders will vote on the deal next Tuesday. It would pay them $61.50 per share. That’s down from the $65.50 share price and $5.5 billion valuation when the agreement was first announced last October. The deal was restructured the following April. Along with its stores, Cabela's will sell its website and catalog business to Bass Pro, and also plans to sell its credit card unit.
In a statement, Bass Pro said Wednesday that while there are still other steps in this process, today’s news is “very positive and we look forward to keeping our customers and team members updated as we move ahead.”
The deal is expected to close later this year. It remains uncertain how many of the some 2,000 Cabela’s jobs will remain in Sidney, Nebraska; the company’s headquarters.
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