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Two major American outdoor companies are joining forces.

Bass Pro Shops announced on Monday that it has reached an agreement to acquire rival Cabela's in a cash deal worth $5.5 billion.


"A driving force behind this agreement is the highly complementary business philosophies, product offerings, expertise and geographic footprints of the two businesses," the companies 

Both sell fishing and hunting equipment. Bass Pro Shops are mainly found in the eastern part of the U.S. and Canada, according to the company, while Cabela's has a stronger presence in the western part of North America.

Springfield, Mo.-based Bass Pro Shops will pay $65.50 per share in cash, a 19.2 percent premium over Friday's closing share price for Cabela's, which is headquartered in Sidney, Neb. The deal is expected to close in the first half of 2017, according to the companies.

 that "it was not immediately clear whether the acquisition would result in any store closures" and notes that Cabela's sales have sagged:


Bass Pro Shops operates 99 stores and has some 20,000 employees while Cabela's has more than 19,000 "outfitters" at 85 stores, the statement says. Bass Pro Shops says it intends to keep Cabela's operations in Sidney and Lincoln, Neb.

Johnny Morris, Bass Pro Shops' founder and CEO, will remain at the helm of the combined company and said he hopes the deal will promote conservation:

Business and Economic News

The two U.S.-based outdoor companies that sell hunting and fishing equipment are joining forces in a deal expected to close in the first half of 2017.

Bass Pro Shops to reel in Cabela's for $5.5 Billion

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