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The Federal Trade Commission delayed the proposed $5.5B merger between Bass Pro Shops and Cabela’s, citing a need for more information on the deal.
Bass Pro Shops agreed in October to acquire its struggling rival for $65.50 per share in cash, but now the FTC’s delay will push back any merger for at least a few more months, RetailDive reports. Bass Pro Shops pursued the deal in large part due to the huge overlap between the two companies—45% of its customers are also frequent shoppers at Cabela’s.
But that overlap is causing concern among regulators, who are taking care to make sure the deal doesn’t violate antitrust regulations. [RD]
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