Cabela’s Inc., which has come under pressure from activist investor Elliott Associates, is “fielding potential takeover interest and weighing whether to begin a sales process,”
Bloomberg reported.
The company’s advisers have “begun reaching out to a small group of potential private equity buyers and strategic acquirers,” although the board “hasn’t authorized a formal strategic review or given advisers an official mandate to seek buyers,” the article said.
The report said that a competitor, Bass Pro Shops, is considering a bid for Cabela’s and that several private equity firms also may be interested in making an offer.
Cabela’s was founded in 1961 by brothers Richard and Jim Cabela. Richard died last year; Jim, who is in his mid-70s, is the company chairman, the article said. (Source: Bloomberg, Nov. 19, 2015.)
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