Cabela's Shareholders Approve Bass Pro Shop Merger
It only took about 35 people around 20 minutes yesterday to approve a $4 billion merger that's been lingering for months.Backed by that Cabela's CEO Tommy Milner calls "overwhelming support" the shareholders of Cabela's approved their proposed merger with Bass Pro Shops. Under the current terms, shareholders will receive $61.50/per share for the stock which has been trading in the $58.90-$59.94 range. After the merger, the companies will be based in Springfield, Missouri. No word on how many of the 1,000 workers in Cabela's Sydney, Nebraska, headquarters will be retained. Cabela's stock closed trading yesterday at $59.97, up eight cents.