It’s almost final: Bass Pro Shop clears final hurdle to buy Cabela’s

FILE
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FILE

Bass Pro Shops has cleared one of the final hurdles to finally purchase Cabela's, as antitrust regulators ended their investigation into the $4 billion deal.

The Federal Trade Commission signed off on the deal earlier this week, according to Cabela’s, but banking regulators have to approve another part of the transaction before the deal is final.

Stifel Nicolaus analyst Jim Duffy said gaining FTC approval makes it more likely that the merger of the two companies will be completed, according to the Associated Press. Nebraska-based Cabela’s shareholders will vote on the deal on Tuesday, which would pay them $61.50 per share.

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The deal was initially announced back in October 2016, and because Cabela’s is a publicly traded company there are a number of federal regulations that need to be followed while the transaction is pending. Bass Pro Shops is a privately-owned company.

Both Bass Pro and Cabela’s have a big presence in this region. Cabela’s has a 70,000-square-foot store at 5500 Cornerstone North Blvd., in the Cornerstone at Centerville development off exit 7 of Interstate 675 near Wilmington Pike, and a location in West Chester Twp. The stores employ about 130 employees.

Bass Pro Shops has a location in Forest Park just north of Cincinnati.