The FTC has signed off on a deal for Bass Pro Shop (Springfield, Mo.) to acquire Cabela’s (Sidney, Neb.), reports Springfield News-Leader. The deal has been given the go ahead by federal regulators to proceed without any compromises, such as having to close any stores.
For the most part, the two companies operate stores in different parts of the country, with Bass Pro being a strong presence in the southeastern U.S. and Cabela’s having a large footprint in the Northwest.
Bass Pro entered an agreement with Cabela’s in October to buy the company for $65.50 per share. The deal was revised in April and the price dropped to $61.50 per share. Cabela’s shareholders are scheduled to vote on the deal next week.
World’s Foremost Bank (Lincoln, Neb.) will acquire Cabela’s credit card business.
Bass Pro plans to operate the combined company from its headquarters in Springfield, Mo.