Bass Pro Shops To Hook Cabela’s For $5.5B

0

Bass Pro Shops To Hook Cabela’s For $5.5B by PitchBook

Bass Pro Shops has agreed to acquire Cabela’s (NYSE: CAB) for $65.50 per share in cash, representing an aggregate transaction value of about $5.5 billion and a 19.2% premium to the company’s closing share price Friday. The merchant banking division of Goldman Sachs will contribute $1.8 billion in equity financing and Pamplona Capital Management will add $600 million.

Joel Greenblatt Owned Hedge Fund On Why Value Investing Isn’t Working Now

Joel GreenblattAcacia Capital was up 12.27% for the second quarter, although it remains in the red for the year because of how difficult the first quarter was. The fund is down 14.25% for the first half of the year. Q2 2020 hedge fund letters, conferences and more Top five holdings Acacia's top five holdings accounted for Read More


Cabela’s, a retailer of hunting and fishing gear operating primarily in the western US, first announced it would explore strategic alternatives last December. The acquisition by Bass Pro Shops, its chief rival in the outdoor equipment space, creates a combined business with more than 180 stores employing nearly 40,000. For Bass Pro Shops, which operates primarily in the eastern US and Canada, the deal presents an opportunity for significant geographic expansion.