Two major brands within the outdoor sports world are rumored to be discussing a possible buyout.
Bass Pro Shops is considering an offer to purchase Cabela’s, according to a report from AL.com.
“Reuters reported Bass Pro is working with an investment bank on a potential offer for the U.S. hunting and fishing chain.”
However, there has been no confirmation of this deal from Bass Pro Shops or Cabela’s.
Reuters reported information on the climb in Cebela’s shares within the last month, noting that they jumped as much as 13 percent on the news, giving Cabela a market capitalization of around $3 billion.
Reuters also reported that last month, Elliott disclosed an 11 percent stake in Cabela’s and called for it to explore strategic alternatives, including a sale to a private equity firm.
Both outdoor companies have a presence in Alabama, with Cabela’s having opened its first Alabama location in Huntsville just last month.
UPDATE: This deal has gone through — Bass Pro is purchasing Cabela’s for $5.5 billion. Read the full story here.