Newspaper article St Louis Post-Dispatch (MO)

Outdoor Giant Bass Pro to Acquire Rival Cabela's for $5.5 Billion

Newspaper article St Louis Post-Dispatch (MO)

Outdoor Giant Bass Pro to Acquire Rival Cabela's for $5.5 Billion

Article excerpt

Bass Pro Shops said Monday it will acquire Cabela's Inc. for $5.5 billion, combining the top two hunting and fishing retailers in the United States.

With the deal, Springfield, Mo.-based Bass Pro Shops will nearly double its store count in North America.

Bass Pro has 99 stores, including one in St. Charles. Sidney, Neb.-based Cabela's has 85 stores, including a location at the nearly empty St. Louis Outlet Mall in Hazelwood.

Cabela's had said it would explore a sale last December after pressure from activist hedge fund Elliott Management Corp., which said the shares were undervalued.

On Monday, Cabela's shares rose 15 percent to close at $63.18 on the New York Stock Exchange, close to the $65.50 per share in cash that the deal with Bass Pro values the company. …

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