Sidney, NE— Cabela’s officials confirmed this week that the FTC has concluded its investigation into the company’s upcoming merger with Bass Pro Shops. The deal’s next hurdle appears to be a July 11 vote by Cabela’s shareholders, which if approved, would almost certainly seal the deal between the two long-time outdoor retail rivals.
That vote is facing a cloud, as some Cabela’s shareholders have filed a class action lawsuit against the company in recent weeks. However, it is expected to go through. The final obstacle in the way of merger would likely be the sale of assets from Cabela’s financial arm, World’s Foremost Bank, to Georgia-based Synovus Financial and Capital One.
This week’s announcement closes a FTC review process that was extended in January.
Bass Pro Shops has 82 stores in the U.S.; Cabela’s has 95 locations. Combined, the companies amount to nearly 40,000 employees. The deal is expected to close later this year.