Win Free Tackle in the Contests on Fishinpedia
Click for Details

Tackle Warehouse
Monster Fishing Tackle
Join Us on Facebook
All-In+Charge Chargers
KaRu Lures
Spinnerbaits and Buzzbaits
for Anglers and Pros
Ol Styles
Flat Rock Creek Baits
K9 Fishing Line
Army Bass Anglers
Anglers Choice
Fish-n-Fools Lures
RPM Custom Rods
Fishinpedia
Doctor Sonar
Fishinpedia
Fishinpedia
Friends of NRA

Author Topic:  Bass Pro Shops to pay less for Cabela’s under new terms  (Read 51 times)

Online Jared

  • Administrator
  • Trophy Catch
  • *****
  • Posts: 1208
  • Karma: +590/-0
    • Share Post
  • Favorite Lake: Santee Cooper
  • Twitter: @Fishinpedia
  • Likes Given: 213
Bass Pro Shops to pay less for Cabela’s under new terms

April 17, 2017

Bass Pro Shops will pay about $500 million less for Cabela's under the new terms of the companies' merger agreement announced Monday.

Under the Amended Merger Agreement, Bass Pro Shops will acquire Cabela’s for $61.50 per share in cash, representing an aggregate transaction value of approximately $5.0 billion. Cabela’s Board of Directors unanimously approved the transaction, which is expected to close in the third quarter of 2017, subject to Cabela’s shareholder approval, regulatory approvals and other customary closing conditions.

When the deal was first announced in October, it called for a price of $65.50 per share in cash or an aggregate transaction value of approximately $5.5 billion.

“We’re excited to announce this agreement, which allows us to look ahead with greater certainty toward the completion of our merger with Bass Pro Shops and offers a positive step forward for all parties,” said Tommy Millner, Cabela’s CEO. “We look forward to completing these transactions for the benefit of our shareholders, Outfitters and outdoor enthusiasts.”

Johnny Morris, founder and CEO of Bass Pro Shops said, “We remain excited about the exceptional opportunity we have to continue to serve sportsmen and sportswomen by bringing together Cabela’s, Bass Pro Shops and White River Marine Group. Today’s announcement is an important step forward and we are excited about the opportunity to continue celebrating the great Cabela’s brand with ours as one unified outdoor family for our customers and for conservation.”

Cabela's also announced that it has entered into agreements with subsidiaries of Synovus Financial Corp. and Capital One Financial Corporation in connection with the sale of the assets and liabilities of Cabela’s wholly owned bank subsidiary, World’s Foremost Bank.

Synovus Bank, a bank subsidiary of Synovus Financial Corp., a financial services company based in Columbus, Georgia, with approximately $30 billion in assets, will acquire certain assets and assume certain liabilities of the bank, including deposits totaling approximately $1.2 billion. Following the completion of the sale of the bank’s assets and liabilities, Synovus will sell the bank’s credit card assets and related liabilities to Capital One. Synovus will retain the bank’s deposits.

As originally announced, Capital One will be the exclusive issuing partner of Cabela's branded CLUB Visa program pursuant to a 10-year program agreement. Capital One intends to continue to operate the Cabela’s CLUB servicing center in Lincoln, Nebraska.

The Bass Pro Shops merger remains subject to approval by Cabela’s shareholders, as well as antitrust clearance and other customary closing conditions. The bank transaction is subject to regulatory approvals by Synovus’s primary bank regulators and other customary closing conditions. The bank transaction will close immediately prior to the closing of the Bass Pro Shops merger.

Linkback: http://fishinpedia.com/fishing-industry-news/54/bass-pro-shops-to-pay-less-for-cabelas-under-new-terms/1855/
Learn how to use our site's features. Follow the links below:
  • Learn how and why to use Topic Categories when posting Click Here
  • Learn how and why to use Tags when posting Click Here
  • Learn how and why to use Mentions when posting Click Here
Other questions? Just ask me. I'm always glad to help.

Offline Nitrofreak

  • Global Moderator
  • Trophy Catch
  • *****
  • Posts: 1135
  • Karma: +399/-0
    • Share Post
  • Likes Given: 427
Re: Bass Pro Shops to pay less for Cabela’s under new terms
« Reply #1 on: April 20, 2017, 08:32:02 AM »
Your one stop shop for everything outdoors...

Johnny Morris is doing it all, the Walton of the outdoor world.

Not saying this in a bad way at all, Johnny Morris started with nothing but an idea and look at where he has gone with it, about all that can be said is wow man, congratulations on building an empire !! 
Too much cause and effect thinking takes the freedom out of fishing- Bill Murphy

Offline rivermandave

  • Global Moderator
  • Lunker
  • ****
  • Posts: 385
  • Karma: +75/-0
    • Share Post
  • Likes Given: 41
Re: Bass Pro Shops to pay less for Cabela’s under new terms
« Reply #2 on: April 20, 2017, 02:56:56 PM »
Sorry...but I don't like the merger :crying:

Stopped liking Bass Pro when the jacked-up their prices in 2008.

I'm sure Cabela's board will love their new fortune :blow-nose:

Offline iamski

  • Assistant Admin
  • Trophy Catch
  • *****
  • Posts: 1253
  • Karma: +225/-0
    • Share Post
  • Likes Given: 50
Re: Bass Pro Shops to pay less for Cabela’s under new terms
« Reply #3 on: April 20, 2017, 08:09:04 PM »
I think I heard that  Cabela's stores will keep the name too.
Everyone has to believe in something. I believe I'll go Fishin.

Offline Jig Man

  • Trophy Catch
  • *****
  • Posts: 509
  • Karma: +188/-0
    • Share Post
  • Likes Given: 29
Re: Bass Pro Shops to pay less for Cabela’s under new terms
« Reply #4 on: April 21, 2017, 06:49:40 AM »
It will be interesting to see how it unfolds.  John L has been buying up competition in the boating industry for several years then dropping them out of sight.  Do you remember Kenner center consoles, Pro Craft bass boats, Champion bass boats, Fisher aluminum boats just to name a few.
If you're too busy to go fishin' you're too busy.

Tags:

Share via delicious Share via digg Share via facebook Share via linkedin Share via reddit Share via stumble Share via twitter

xx
SPRO Supports Cabela's Collegiate BFS

Started by Jared

0 Replies
12 Views
Last post April 10, 2017, 04:26:56 PM
by Jared
xx
Negative Slang Fishing Terms?

Started by Jared

8 Replies
282 Views
Last post February 16, 2017, 08:57:47 PM
by Stealthfisher
xx
rumor..BASS PRO selling stock to investment company>>?? BPS takin over BASS??

Started by bobski

2 Replies
568 Views
Last post October 09, 2015, 07:28:41 AM
by toad
clip
A Citation Bass

Started by Stealthfisher

9 Replies
1948 Views
Last post September 01, 2015, 06:59:22 AM
by joe waller
clip
Finally, an A-Rig bass

Started by fish365

4 Replies
447 Views
Last post Today at 10:17:15 PM
by Muddy
 




hey, you, yeah you, why ya looking here? Why aren't you out fishing? Well? Go fishing and catch some nice ones. Then hurry back here and show us pictures of those bass and tell us all about your fishing trip. We want to hear it all. We care. We really do.



....you're still here? Well get fishing, my friend!

Tell ya what... you go fishing, come back here, post a nice accurate and detailed report with pictures, on our message boards above, and I will send you a pack of baits on the house. Be sure to message me by Clicking Here and let me know you saw this secret deal so I know to send you the baits. Also, don't tell anyone you saw this down here. We will let them find it on their own. Deal?

Good.

Now get! ;)

See ya soon buddy! :)