UPDATE: Bass Pro Shops’ Deal with Cabela’s Faces New Regulatory Hurdles
OutdoorHub Reporters 01.03.17
Remember that news about Bass Pro Shops buying out Cabela’s? Well, here’s another update on that deal and how things are going.
According to Springfield News-Leader, Cabela’s said in a securities filing Thursday that the Federal Trade Commission wants to see more information about the merger. This isn’t exactly alarming news, it just means that this deal could end up taking a bit more time to get final approval. Cabela’s expects the FTC to clear the Bass Pro purchase in the first half of 2017, however, that may not be the case.
The filing says the second roadblock is banking regulator approval of Capital One’s proposed takeover of Cabela’s Lincoln-based World’s Foremost Bank. Cabela’s says Capital One doesn’t expect approval sooner than Oct. 3, after which any of the companies involved could terminate the agreement, Springfield News-Leader reported.
The companies were aiming to close the deal by June 30.
Like all outdoorsmen and women, we will be keeping our eyes glued on this situation as it unfolds. Stay tuned for any new details that come out along the way.