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Bass Pro Shops is buying competitor Cabela's as part of a deal worth about $5.5 billion. The deal was announced Monday morning, 10 months after Cabela's announced it was evaluating "strategic alternatives" following slumping sales. Monday's news sent...

Bass Pro Shops bags Cabela's in $5.5 billion deal

Bass Pro Shops is buying competitor Cabela's as part of a deal worth about $5.5 billion. The deal was announced Monday morning, 10 months after Cabela's announced it was evaluating "strategic alternatives" following slumping sales. Monday's news sent...

Bass Pro Shops bags Cabela's in $5.5 billion deal

Bass Pro Shops is buying competitor Cabela's as part of a deal worth about $5.5 billion.

The deal was announced Monday morning, 10 months after Cabela's announced it was evaluating "strategic alternatives" following slumping sales. Monday's news sent Cabela's stock climbing in premarket trading.

Reuters reported in November that Bass Pro was interested in buying its hunting-and-fishing-gear rival.

As part of the deal, Bass Pro Shops will partner with Capital One, which runs   Cabela's CLUB, the store's branded credit card. Important for frequent shoppers: all Cabela's CLUB points and Bass Pro Shops Outdoor Rewards points will be unaffected.

There was no news on how the deal will affect stores.

Each chain has one store in Pennsylvania, with the Cabela's location in Berks County as the closest to the Lehigh Valley.

Bass Pro Shops, which is headquartered in Missouri, has a store in Harrisburg. There has been discussions by Las Vegas Sands to add a Bass Pro Shops as part of a convention center and second hotel at Sands Casino Resort Bethlehem, but nothing has been formally proposed.

Sarah Cassi may be reached at [email protected] Follow her on Twitter @SarahCassi. Find lehighvalleylive.com on Facebook.

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