Morning Call.com
November 6th 2015
Two outdoor sports retailers with links to the Lehigh Valley are considering a merger, according to reports by Reuters and CNBC.
Privately-held Bass Pro Shops is mulling a takeover bid for the publicly-held Cabela’s, which has a store in Hamburg, Berks County. Bass Pro Shops has been looking at opening a store in south Bethlehem.
The move, according to reports, followed a push by Cabela’s investor Elliott Associates for the company to explore its options, including a possible sale to a competitor or private-equity firm. Elliott disclosed an 11 percent stake in Cabela’s last month and said it would hold discussions with management.
Cabela’s shares rose as high as $44.85 on Thursday. The stock had been down 25 percent this year through Wednesday’s close, hurt by sluggish sales. The company delivered disappointing earnings in October, saying it was suffering from “significant weakness” in its fall apparel and footwear offerings.
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