Bass Pro Shops takes further step in pursuit of Cabela’s
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Bass Pro Shops’ pursuit of rival outdoor sporting goods chain Cabela’s has taken a new twist.
The news agency Reuters is reporting that Bass Pro has partnered with Goldman Sachs Group Inc’s private equity arm to make an offer for the iconic US fishing and hunting store chain.
The move would give Bass Pro the equity financing necessary to pursue Cabela’s and makes such a deal more likely, given the potential cost savings and synergies a combination of the two retailers would bring, reported Reuters.
In December last year, Cabela’s announced that it was working with an investment bank to ‘explore strategic alternatives’ including a sale following pressure from activist fund, the Elliott Management Corporation.
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