A hurdle that has delayed the merger of outdoor retail giants Bass Pro Shops and Cabela's has been cleared, according to a report today.
Fox Business News Wednesday reported that as part of a filing with the Securities and Exchange Commission (SEC), Cabela's said the Federal Trade Commission has concluded its investigation of Bass Pro Shops' $4.2 billion takeover, a deal to be voted on by Cabela's shareholders on Tuesday, July 11.
The deal is contingent on the sale of Cabela's financial division to Synovus Financial and Capital One Financial. Capital One will buy Cabela’s credit card business. Synovus will acquire the assets and deposits of World’s Foremost Bank.
Cabela’s agreed in April to be bought for $61.50 a share, down from the original purchase price of $65.50 a share.
To read the full report, click here.
