bass pro shop/cabelas

[glenn57]

heard on the radio driving into work this morning that bass pro bought out cabelas!!!!!!!!! not sure what that means, never been to a bass pro shop and its been years since i have been in any cabelas.

they did say there rewards programs for both outfits where going to remain unchanged. YAWN....................

[deadeye]

Bass Pro Shops has reached a deal to acquire outdoors retail competitor Cabela's and take the company private in a deal valued at $5.5 billion, the companies said Monday.
It was not immediately clear whether the acquisition would result in any store closures, but the companies said in a statement that Springfield, Mo.-based Bass Pro Shops would "celebrate and grow" the Cabela's brand.
The deal comes about 10 months after Sidney, Neb.-based Cabela's effectively put itself up for sale at the urging of hedge fund Elliott Management, which had declared the hunting-and-fishing retailer undervalued and called for the company to consider a sale or reorganization.
Privately held Bass Pro Shops will pay $65.50 per share in cash for Cabela's, representing a premium of 19.2% over Friday's closing price.
Cabela's shares rose 14.7% to $62.99 in pre-market trading Monday.
Long known for large-format destination stores, Cabela's has lost ground to smaller, nimbler competitors and online retailers. Sales at stores open at least a year fell 1.3% in the first half of 2016, compared to a year earlier, according to a securities filing.
The number of purchases at Cabela's stores fell 8.1% during that period, reflecting a drop-off in foot traffic as customers bought less clothing and footwear from the retailer, although hunting sales increased and average revenue per transaction rose 8.2%.
The deal marks a dramatic expansion of the outdoor retailing empire controlled by Bass Pro Shops CEO Johnny Morris, who founded the company in 1972. The billionaire will lead the newly combined entity as CEO and will retain majority ownership.
Bass Pro Shops has about 99 stores and 20,000 employees. Cabela's has about 85 stores and had about 19,700 employees at the end of 2015, according to securities filing.
"The story of each of these companies could only have happened in America, made possible by our uniquely American free enterprise system," Morris said in a statement. "We have enormous admiration for Cabela’s, its founders and outfitters, and its loyal base of customers."
Cabela's CEO Tommy Millner said the company's board had unanimously backed the sale after "a thorough strategic review."
Bass Pro Shops said it plans to maintain Cabela's operations in Sidney and Lincoln, Neb. "and hopes to continue the very favorable connections to those communities and the Cabela’s team members residing there."
The companies said they expect the deal to be approved in the first half of 2017

[Lee Borgersen]

                         LETTER FROM TOMMY

                                   
  To Our Loyal Cabela's Customers,

  ........
 This morning, we announced that Cabela's will merge with Bass Pro Shops and, upon closing of the transaction, will begin a multi-year partnership with Capital One whereby Capital One will exclusively service the Cabela's CLUB Visa card. Additional details regarding this announcement can be found here http://phx.corporate-ir.net/phoenix.zhtml?c=177739&p=irol-irhome in our news release.

 We're really excited about joining forces with Bass Pro Shops to create the truly premier retailer in outdoor sporting goods. We will be able to provide you with access to more locations and the greatest selection of outdoor recreation equipment and apparel in North America.

  ....
 We have worked hard to ensure that this process is seamless to you. We currently expect to complete the transactions in the first half of 2017, subject to regulatory approvals and other customary closing conditions. Until closing, Cabela's and Bass Pro Shops will continue to operate as separate, independent companies, as they always have. Additionally, we will continue to honor and offer Cabela's Gift Cards. Please know that we remain committed to upholding the trusted relationship we have built with you and are focused on providing the exceptional service and experiences you have come to expect from us.

 For our CLUB members, following the closing of the transaction, we expect to operate the Cabela's CLUB program without change or interruption. You will see no change to how you earn, save or use your points, and your point balance will not change.

 Thank you for your continued support of Cabela's.

 Sincerely,

 Tommy Millner
 Chief Executive Officer


  more ......
Additional Information Regarding the Transaction and Where to Find It

 This communication does not constitute an offer to sell or the solicitation of an offer to buy the securities of Cabela's Incorporated (the "Company") or the solicitation of any vote or approval. This communication is being made in respect of the proposed merger transaction involving the Company, Bass Pro Group, LLC ("Bass Pro Group") and a wholly-owned subsidiary of Bass Pro Group. The proposed merger of the Company will be submitted to the stockholders of the Company for their consideration. In connection therewith, the Company intends to file relevant materials with the Securities and Exchange Commission (the "SEC"), including a definitive proxy statement. However, such documents are not currently available. The definitive proxy statement will be mailed to the stockholders of the Company. BEFORE MAKING ANY VOTING OR ANY INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of the definitive proxy statement, any amendments or supplements thereto and other documents containing important information about the Company, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the Company will be available free of charge on the Company's website at www.cabelas.com under the heading "SEC Filings" in the "Investor Relations" portion of the Company's website. Stockholders of the Company may also obtain a free copy of the definitive proxy statement and any filings with the SEC that are incorporated by reference in the definitive proxy statement by contacting the Company's Investor Relations Department at (308) 255-7428.

Participants in the Solicitation

 The Company and its directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of the Company is set forth in its Annual Report on Form 10-K for the fiscal year ended January 2, 2016 and Amendment No. 1 thereto, which were filed with the SEC on February 22, 2016 and April 29, 2016, respectively, and in subsequent documents filed with the SEC, each of which can be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation of the stockholders of the Company and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the preliminary and definitive proxy statements and other relevant materials to be filed with the SEC when they become available.

[LPS]

I like doing business with Cabelas.  I sure hope this goes well and things stay as smooth as they anticipate.  Cabelas is great to work with.

[The General]

Same here LPS.  I enjoy taking the kids there to look around a couple times a year.  The wife and I go down on customer appreciation night for a meal and spend our points for the year on Christmas presents and have the free meal.