Bass Pro Shops wants to buy Cabela"s
OMAHA, Neb. (AP) Outdoor gear giants Bass Pro and Cabelas will combine in a $4.5 billion deal announced Monday.
Bass Pro is paying Cabelas shareholders $65.50 cash per share. The deal creates uncertainty about jobs in Cabelas home state of Nebraska. The combined companies plan to keep some operations in Sidney and Lincoln, Nebraska, but its not immediately clear how many jobs might be lost.
Bass Pro CEO Johnny Morris says he hopes to continue growing the Cabelas brand alongside his own Springfield, Missouri, based chain.
Capital One will take over running Cabelas credit card unit as part of the deal. Activist investment firm Elliott Management began pushing for significant changes at Cabelas last fall. Cabelas employs about 2,000 people in the western Nebraska town of Sidney, which has about 7,000 residents.
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Source: http://boston.cbslocal.com/2016/10/03/bass-pro-buys-cabelas-rival-merger/
