Outdoor Giant Bass Pro Shops To Buy Rival Cabela’s For $4.5B

OMAHA, Neb. (AP/WWJ) – Outdoor gear giants Bass Pro and Cabela’s will combine in a $4.5 billion deal announced Monday.

Bass Pro is paying Cabela’s shareholders $65.50 cash per share. The deal creates uncertainty about jobs in Cabela’s home state of Nebraska. The combined companies plan to keep some operations in Sidney and Lincoln, Nebraska, but it’s not immediately clear how many jobs might be lost.

Bass Pro CEO Johnny Morris says he hopes to continue growing the Cabela’s brand alongside his own Springfield, Missouri, based chain.

Capital One will take over running Cabela’s credit card unit as part of the deal. Activist investment firm Elliott Management began pushing for significant changes at Cabela’s last fall. Cabela’s employs about 2,000 people in the western Nebraska town of Sidney, which has about 7,000 residents.

It was not immediately clear what, if anything, this might mean for stores in Michigan.

Bass Pro has one location in the state: Outdoor World at Great Lakes Crossing in Auburn Hills. There are currently three Cabela’s stores in Michigan, in Dundee, Grandville and Saginaw.

TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.


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