Cabela’s Agrees to Buyout by Bass Pro in $5.5 Billion Deal - Kimber Forum

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Old 10-03-2016, 09:31 AM   #1
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Cabela’s Agrees to Buyout by Bass Pro in $5.5 Billion Deal

http://finance.yahoo.com/news/cabela...122441528.html

Cabela’s Inc. agreed to be bought by Bass Pro Shops in a $5.5 billion deal, handing a victory to the activist investor that had been pushing the outdoor-sports equipment retailer to put itself for sale.

The offer of $65.50 a share in cash represents a 19 percent premium to Cabela’s most recent closing price, the companies said Monday in a statement. Capital One Financial Corp. is acquiring Cabela’s $5.2 billion credit card receivables portfolio, according to a separate statement.

The deal, which unites two of America’s largest outdoors retailers, comes almost a year after Elliott Associates began pushing Cabela’s to consider a sale. The chain, which had built a following among hunters and outdoor enthusiasts, came under pressure after revenue and profit growth sputtered.

Cabela’s, founded by brothers Richard and Jim Cabela in 1961, said in October of last year that “significant weakness” in its fall apparel and footwear contributed to a disappointing third quarter. Less than a week later, Elliott disclosed an 11 percent stake and said it would push for a shakeup. The company began a strategic review of its business in December.
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Old 10-03-2016, 10:21 AM   #2
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Hope they don't raise store prices 19%.
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Old 10-03-2016, 10:44 AM   #3
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Originally Posted by Tinman View Post
Hope they don't raise store prices 19%.
I think they already did that a while back. They have high prices and offset with incentives like $20 off next $100+ purchase, etc.
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Old 10-03-2016, 12:50 PM   #4
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Cabela's just opened a new store 10 miles from me. I was just getting myself familiarize with the place.
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Old 10-03-2016, 01:15 PM   #5
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I was at the Hamburg, Pa location on Saturday and I was a bit disappointed with their handgun selection. I wasn't looking to buy a gun from them because their handgun prices are too high. I was hoping to see a few 1911's I have an interest in buying in the future.
I wonder if this location will stay open because there is a Bass Pro Shop in Harrisburg. Harrisburg is an extra hour of driving.
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Old 10-03-2016, 02:52 PM   #6
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From my experience, the Cabela's that I have visited are much larger and nicer than most of the Bass Pro stores. Cabela's has far more guns for sale, both new and vintage than Bass Pro. The same goes for shooting and hunting accessories and clothing. I sure hope that Bass Pro execs don't screw up Cabela's.
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Old 10-03-2016, 03:40 PM   #7
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We have a fairly new Cabela's here north of Atlanta. It's kind of in the middle of nowhere, with nothing around it but it's a big, beautiful store. I thought their gun stock was rather limited, but they seem to have a good supply of outdoor sporting equipment. We also have Adventure Outdoors in Smyrna that advertises over 10K new and previously owned firearms. They do have a lot handguns and rifles, takes a lot of time browsing their stock and their people all seem to be very knowledgeable. Any LGS looks limited compared to Adventure Outdoors.
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Old 10-03-2016, 06:01 PM   #8
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Well...that means a bit LESS competition for the retail shopper and you know what that generally means.
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Old 10-03-2016, 06:53 PM   #9
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The Cabela's near me is a great store with a ton on guns, just on the expensive side. The Bass Pro near me is no where near as nice as the Cabela's.
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Old 10-03-2016, 06:58 PM   #10
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Bass Pro just built a new store just north of the TN/GA line near Chattanooga. There is a Cabela's just across the state line heading south about three miles away...
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