Published By OutdoorsFIRST Media Published April 19, 2017
Bass Pro Shops will pay about $500 million less for Cabela's under the new terms of the companies' merger agreement announced Monday.
Under the Amended Merger Agreement, Bass Pro Shops will acquire Cabela's for $61.50 per share in cash, representing an aggregate transaction value of approximately $5.0 billion. Cabela's Board of Directors unanimously approved the transaction, which is expected to close in the third quarter of 2017, subject to Cabela's shareholder approval, regulatory approvals and other customary closing conditions.
When the deal was first announced in October, it called for a price of $65.50 per share in cash or an aggregate transaction value of approximately $5.5 billion.
"We're excited to announce this agreement, which allows us to look ahead with greater certainty toward the completion of our merger with Bass Pro Shops and offers a positive step forward for all parties," said Tommy Millner, Cabela's CEO. "We look forward to completing these transactions for the benefit of our shareholders, Outfitters and outdoor enthusiasts."