Cabela’s quiet on takeover during 10-minute AGM
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As regulators continue to scrutinise its proposed takeover by rival US outdoor chain, Bass Pro Shops, Cabela’s faced shareholders at its annual meeting, an event that lasted less than ten minutes.
The meeting avoided any discussion on the proposed $5.5 billion merger with its Chief Executive Officer, Tommy Millner, telling those present that the topic would not be discussed.
He said: “This year, due to the merger with Bass Pro Shops, the agenda is limited and there will be no question and answer portion.” On the agenda was the election of the ten directors to serve on the Cabela’s board, the ratification of its accounting firm and an advisory note on executive compensation.”
As reported in the last Angling International Communiqué Online, the proposed takeover is likely to be held up after both the US and Canadian regulators requested more time to study deal and its implications.