Bass Pro Shops, Cabela’s $5.5B Merger: Regulators Raise Even More Questions
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The Federal Trade Commission already delayed the proposed $5.5B merger between Bass Pro Shops and Cabela’s, and now the deal's hitting even more speed bumps.
Cabela’s said in a recent regulatory filing that two regulatory approvals for the deal have been delayed by requests for additional information, the Wall Street Journal reports. That’s not good news for the two companies because such a delay isn’t routine—the FTC says the vast majority of deals are approved without any additional requests for information.
The delays threaten to derail Capital One’s purchase of Cabela’s credit card business, which must close by October 2017. Fear over the merger’s future pushed down Cabela’s shares 5.6% to $58.25, below the $65.50 a share deal price. [WSJ]