Cabela’s shareholders agree to acquisition by Bass Pro

Shareholders of family-controlled Cabela’s Inc. have voted in favor of the company’s acquisition by Bass Pro Shops for $5 billion, or $61.50 a share,

the

St. Louis Business Journal

reported.

Cabela’s majority shareholders include co-founder James Cabela, who owns 16%, and Cabela’s Family LLC, which owns 6.7%, the article said.

The deal was originally for $65.50 a share, or $5.5 billion, but was revised in April, the article said.

Cabela’s will also sell certain assets of its bank subsidiary to Synovus Bank. Synovus will sell the bank’s credit card assets and related liabilities to Capital One after the deal closes, the report said.  (Source:

St. Louis Business Journal

, July 11, 2017.)