MKM Partners Downgrades Cabela's (CAB) to Neutral
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October 3, 2016 8:30 AM EDT
By Abhijith Ganapavaram and Sruthi Shankar
(Reuters) - Bass Pro Shops said on Monday it will acquire Cabela's Inc (NYSE: CAB) for $5.5 billion, combining two meccas for outdoor enthusiasts, even as the deal may face antitrust scrutiny given that the hunting and fishing retailers overlap in several U.S. states.
The deal, first reported by Reuters, will combine Cabela's 85 stores, which have a stronger U.S. Northwest presence, with Bass Pro's roughly 100 stores that are concentrated in the U.S. Southeast.
Their overlap in Texas, Missouri and Kansas will likely raise antitrust... More
October 3, 2016 8:13 AM EDT
Bass Pro Shops and Cabelas Incorporated (NYSE: CAB) announced that they have entered into a definitive agreement under which Bass Pro Shops will acquire Cabelas for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5 billion.
In addition, upon closing Bass Pro Shops will commence a multi-year partnership agreement with Capital One, National Association, a wholly-owned national banking subsidiary of Capital One Financial Corporation (NYSE: COF), under which Capital One will originate and service the Cabelas CLUB, Cabelas co-branded credit card, and... More
