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Under threat from Elliott, Cabela's sells to Bass Pro for $5.5B

Oct 03, 2016 - The Deal Pipeline

Cabela's Inc. (CAB) shares shot up 15% in pre-market trading after Bass Pro Shops on Monday agreed to buy the U.S. outdoor equipment company in a $5.5 billion cash deal that emerged after activist investor Elliott Management's Paul Singer put pressure on the company last year to consider a sale or other strategic options. 

Bass Pro Shops will pay $65.50 a share in cash as part of a deal that also includes a multi-year partnership with Capital One Financial Corp. (COF), which will...