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Outdoor retail giants reach $4.5 billion acquisition deal

Many residents of New Jersey enjoy outdoor activities, like fishing, hunting, camping and hiking. Some of our readers may be interested to hear that two popular outdoors retail giants have reached a multi-billion-dollar acquisition deal. Bass Pro Shops has acquired its competitor Cabela's, after Cabela's effectively sought to be sold approximately 10 months ago. Bass Pro Shops will issue $65.50 cash per share in Cabela's; the entire deal will amount to $4.5 billion. Bass Pro Shop's chief executive officer will retain majority ownership in the newly combined business entity. The deal is anticipated to be officially approved in 2017.

As of right now, it is not known whether any Cabela's locations will close. Instead, both companies issued a statement that the business deal will "celebrate and grow" Cabela's brand.

Although hunting sales went up at Cabela's, the store had seen a reduction in the amount of sales of clothing and footwear at its stores by 8.1 percent, in part due to competition from online retailers and smaller companies. There are approximately 99 Bass Pro Shop locations, and the company employs around 20,000 individuals. Cabela's has approximately 85 locations, and the company employs around 19,700 individuals.

When two popular stores join forces through a merger or friendly acquisition, it often benefits both companies. The acquisition of Cabela's by Bass Pro Shops is just one example of a significant acquisition in today's business climate. Those who want to learn more about how mergers and acquisitions operate may need to get more information about their particular business needs.

Source: USA Today, "Bass Pro Shops reels in Cabela's for $4.5B," Nathan Bomey, Oct. 3, 2016

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