Work continues on the new Bass Pro Shops seen Tuesday, May 24, 2016, in East Ridge. Tenn.U.S. antitrust regulators have ended their investigation into Bass Pro Shops’ $4 billion deal to buy Cabela’s.
The Sidney, Neb.-based Cabela’s chain said that the Federal Trade Commission signed off on the deal earlier this week, but banking regulators still haven’t approved one part of the transaction.
Cabela’s shareholders will vote on the deal – which would pay them $61.50 per share – next Tuesday.
Stifel Nicholas analyst Jim Duffy said gaining FTC approval makes it much more likely that the merger of the two outdoor gear selling rivals will be completed.
The deal, 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.