Gillian Tan, Columnist

Cabela's Lands a Bass

Its purchase by rival Bass Pro Shops shouldn't raise antitrust issues and will result in synergies.

October 3, 2016 at 4:54 PM UTC

Gillian Tan is a senior reporter covering finance and alternative asset classes including real estate, infrastructure, private equity, private credit, venture capital and sports business. She previously wrote an opinion column for Bloomberg and was a reporter at the Wall Street Journal. She is a qualified chartered accountant.

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Just as fishermen celebrate when they land a big catch, Cabela's shareholders can cheer Monday's news that the outdoor-gear retailer just hooked a buyer.

Cabela's agreed to be acquired by closely held rival Bass Pro Shops for $5.5 billion, almost a year after activist investor Elliott Management laid the bait for a sale.1475525433046 While Bass Pro had long been seen as one likely buyer, the transaction dragged out because Cabela's was simultaneously searching for an acquirer for its $5.2 billion credit-card arm. Capital One Financial triumphed in the battle for that business.