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Looks Like This Is Going To Happen – Bass Pro Shops Is Bidding To Buy Cabela’s
Not too long ago I told you about the rumors surrounding Bass Pro Shops possibly buying out it’s competitor Cabela’s and guess what, now it’s probably happening. Bass Pro Shops has teamed up with Goldman Sachs Group Inc. to make the offer to Cabela’s. When the news of this buyout was released Cabela’s shares rose as much as 8.4% on the news and gaves them a market capitalization of 3.6 billion dollars. Cabela’s said back in December that they are working with the investment bank Guggenheim Securities LLC to look into options, including a sale. Bass Pro Shops was founded by Johnny Morris in 1971 and has around 100 stores. Cabelas was founded by Dick Cabela in 1961 and has around 80 stores in the United States and 9 in Canada, not to mention a huge online catalog. Read more about this here.
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