The proposed merger between Bass Pro Shops and Cabela's could be headed for trouble.
According to a Motley Fool report published Wednesday, the delay caused by the Federal Trade Commission's request for additional information about the deal has pushed back the potential closing date and could jeopardize the sale of Cabela's credit card operations to Capital One.
If the deal is not approved by Oct. 3, 2017, all parties, including Capital One, are free to walk away.
The deal has been in the works since last October when Bass Pro Shops offered $5.5 billion to take over Cabela's.
Capital One chairman and CEO Richard Fairbank said on a conference call with financial analysts recently that the company was preparing to walk away from the Cabela's deal.
"Within the next week or so, we expect to either withdraw our bank merger act application or have our application denied by the OCC [Office of the Comptroller of the Currency]," he said.
To read the complete report, click here.
