Cabela’s shareholders are giving a nod to the sale of the outdoor outfitter to rival Bass Pro Shops for roughly $4 billion.
The Nebraska chain said Tuesday that shareholders approved the deal, which will pay them $61.50 per share.
The merger, originally announced in October, will combine Cabela’s 85 stores, which have a stronger U.S. Northwest presence, with Bass Pro’s roughly 100 locations that are concentrated in the U.S. Southeast.
In metropolitan Chattanooga, the companies operate stores within a couple of miles of each other along Interstate 75 on either side of the Tennessee-Georgia border.
Work continues on the new Bass Pro Shops seen Tuesday, May 24, 2016, in East Ridge. Tenn.Cabela’s opened a 72,000-square-foot store near the intersection of I-75 and State Route 146 in Ringgold, Ga., in May 2015. A year later just less than 2 miles north on I-75 on the other side of the state line, Bass Pro Shops opened an 85,000-square-foot store at Exit 1 in East Ridge.