SIDNEY, Neb. — U.S. antitrust regulators have ended their investigation into Bass Pro Shops’ $4 billion deal to buy Cabela’s, Cabela’s said Wednesday.
The Nebraska-based chain said the Federal Trade Commission signed off on the deal earlier this week, but banking regulators still haven’t approved one part of the transaction.
Cabela’s shareholders will vote on the deal, which would pay them $61.50 per share, next Tuesday.
Stifel Nicholas analyst Jim Duffy said gaining FTC approval makes it much more likely that the merger of the two outdoor gear selling rivals will be completed.
In addition to selling Cabela’s stores, website and catalog business to Bass Pro, the company plans to sell its credit card unit.
Ultimately, the deal calls for the credit card business to be sold to Capital One. But first a Georgia-based bank named Synovus will buy the unit as a middleman.
The deal is expected to close later this year. It’s not clear how many of the roughly 2,000 jobs based in Cabela’s hometown of Sidney, Nebraska, will remain afterward.
Copy the Story LinkSend questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.