Cabela’s says Bas Pro deal faces new regulatory hurdles
Posted By: Channel 8 Eyewitness News
SIDNEY, Neb. (AP) – Cabela’s say Bass Pro Shops’ $4.5 billion deal to buy Nebraska-based the outfitter faces some new hurdles.
Cabela’s said in a securities filing Thursday that the Federal Trade Commission wants more information about the merger. Cabela’s said that it still expects the FTC to clear the Bass Pro purchase in the first half of 2017.
The filing says the second roadblock is banking regulator approval of Capital One’s proposed takeover of Cabela’s Lincoln-based World’s Foremost Bank. Cabela’s says Capital One doesn’t expect approval sooner than Oct. 3, after which any of the companies involved could terminate the agreement. The companies wanted to close the deal by June 30.
Cabela’s says in the filing that the three will look for ways to close the deal sooner than Oct. 3.