Bass Pro Shops to acquire Cabela’s

SPRINGFIELD, Mo. ― Bass Pro Shops has reached a $4.5 billion agreement to purchase competitor Cabela’s and take it private, the two companies announced this week. The acquisition will bring together two major outdoor sporting goods banners, with the privately held Bass Pro pledging to “celebrate and grow” the Cabela’s brand. The Sidney, Neb.-based retailer has been seeking buyers since the end of last year, when hedge fund Elliott Management dubbed it undervalued and called for its sale or restructuring.