It appears the merger between Bass Pro Shops and Cabela’s is failing.
Back in October Bass Pro Shops spokesperson called the deal a “definitive agreement” but as of right now its not looking good.
The Federal Trade Commission has asked for more information which could delay the closing deadline. These regulatory requests are causing problems for the sale of Cabela’s credit card operations to Capital One. After this request was mad Cabela’s shares fell 7 percent.
With deals of this magnitude often come lots of regulatory inspection from the FTC. The FTC is not an organization that is easy to deal with, especially with mergers of this size.
Sources are predicting this will complicate the deal and require divestitures that could significantly delay the closing date.
Capital One Chairman and CEO Richard Fairbank said they were essentially out of the running to get the credit card business.
If the deal is not approved by October 3, 2017, either party is free to walk away.
For the long drawn out press release CLICK HERE