FTC Gives the Go-Ahead for the Bass Pro/Cabela’s Merger

Cries of “Monopoly” have been silenced, and the companies will soon become one.

The Federal Trade Commission has approved the biggest merger in the history of the outdoor industry. (Photo: Bass Pro Shops)

 

After more than a year of rumors surrounding the potential buyout of Cabela’s by Bass Pro Shops, the Federal Trade Commission has finally OK’d the merger. The commission announced July 3 that it was closing its investigation into the deal, allowing BPS to proceed with its $4.2 billion acquisition.

The industry-changing merger was originally priced at $5.5 billion, but that amount was later amended. The price per Cabela’s share was reduced from $65.50 to $61.50 cash.

Publicly traded Cabela’s held a special meeting yesterday to vote on the acquisition. Shareholders ultimately approved the deal, allowing privately held Bass Pro to take the reins of both companies.

“We are pleased that our combination with Bass Pro Shops has received the overwhelming support of Cabela’s shareholders,” Cabela’s CEO Tommy Millner said in a statement. “Today’s results are an important milestone as we look forward to completing the merger and creating the premier retailer in outdoor sporting goods, with an unparalleled commitment to customer loyalty and satisfaction.”

The final vote count was not available as of this writing, but Cabela’s said in a press release that the tally will be released as part of its upcoming regulatory filing.