Bass Pro merger with Cabela’s faces new issues

(Getty - Roberto Machado Noa/LightRocket | William Thomas Cain / Stringer)

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(Getty - Roberto Machado Noa/LightRocket | William Thomas Cain / Stringer)

There could be a hitch in Bass Pro Shop's $5.5 billion acquisition of Cabela's.

Cabela’s said in a securities filing on Thursday that the Federal Trade Commission is requesting more information about the merger. The company still expects Bass Pro’s purchase to go through during the first half of 2017.

The second roadblock is banking regulator approval of Capital One’s proposed takeover of Cabela’s Lincoln-based World’s Foremost Bank. Capital One doesn’t expect approval sooner than Oct. 3, according to Cabela’s, after which any of the companies involved could terminate the agreement.

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The companies wanted to close the deal by June 30.

Cabela’s is headquartered in Nebraska, and it is not immediately apparent how jobs will be impacted by the acquisition. Cabela’s has been open for 55 years, and has 85 specialty retail stores in the U.S. and Canada.

As part of the original deal, Capital One will also take over Cabela's credit card unit. The deal is backed by $1.8 billion from Goldman Sachs, and another $600 million in financing from Pamplona Capital, a private equity fund.

Cabela’s has a location in Centerville at 5500 Cornerstone North Blvd., and a Bass Pro Shop is located at 300 Cincinnati Mills Road in Forest Fair.

The Associated Press contributed to this report.


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