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Bass Pro Shops is Buying Cabela's for $5.5 Billion

From: Hunting and fishing company Bass Pro Shops, which was started nearly five decades ago when billionaire Johnny Morris started selling fishing lures out of his dad’s liquor store, has agreed to pay $65.50 per share for Cabela’s. This represents a 19% premium over Friday’s closing price. Cabela’s had been exploring strategic alternatives for its business after coming under pressure from activist investor Paul Singer’s Elliott Management, which took a position in the company a year ago and called its stock undervalued.
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