Cabela's IncorporatedNYSE
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  • Mon, Oct. 3, 8:31 AM
    | Mon, Oct. 3, 8:31 AM | 25 Comments
  • Mon, Oct. 3, 7:49 AM
    • A consortium of investors has emerged as the leading bidder for Cabela's (NYSE:CAB), sources tell Reuters.
    • The group includes Bass Pro Shops, the PE arm of Goldman Sachs (NYSE:GS), and Capital One Financial (NYSE:COF).
    • Speculation on a Cabela's buyout has gone on for almost a year after the company opened itself up to considering strategic alternatives.
    • CAB +5.59% premarket to $58.00. Shares of the retailer are up 24.5% over the last 52 weeks.
    | Mon, Oct. 3, 7:49 AM
  • Thu, Sep. 29, 4:19 PM
    • Privately-held Bass Pro Shops is partnering with the private-equity arm of Goldman Sachs (NYSE:GS), and they're working on a bid with Capital One (NYSE:COF), which is interested in Cabela's (NYSE:CAB) credit card business, according to Reuters' sources.
    • Then there's P-E outfit Sycamore Partners which is pairing with Synchrony Financial (NYSE:SYF) to make an offer.
    • Binding bids are due this week.
    • Cabela's credit card business is called World's Foremost Bank, and it had nearly 2M accounts, $5B in loans, and $502M in revenue last year.
    • Cabela's closed the session higher by 2.3%, with all of that gain coming in the last few minutes as this report hit the wires.
    | Thu, Sep. 29, 4:19 PM | 9 Comments
  • Tue, Apr. 19, 10:57 AM
    • Cabela's (CAB +5.8%) is on the move after Reuters reports things are heating up with a potential bid from Bass Pro Shops for the company.
    • Sources indicate that Bass Pro Shops has partnered with Goldman Sachs' private equity arm on putting together a bid.
    • Cabela's already trades with a bit of a takeover premium baked in.
    • Now read Cabela's Should Consider Going Private 
    | Tue, Apr. 19, 10:57 AM | 2 Comments
  • Thu, Mar. 24, 7:51 AM
    • Cabela's (NYSE:CAB) is attracting takeover interest from rival Bass Pro Shops, and has opened its financial books to other potential suitors in the past two weeks, NY Post reports.
    • Bass founder John Morris, who controls the closely-held company, has long wanted to buy his closest rival, according to the report.
    • CAB last month started seeking buyers for its credit card business, which is responsible for ~30% of total sales, and expects to have those bids soon.
    | Thu, Mar. 24, 7:51 AM | 3 Comments
  • Dec. 22, 2015, 11:24 AM
    • Telsey Advisory analyst Joesph Feldman thinks a merger between Dick's Sporting Goods (DKS -0.1%) and Cabela's (CAB -0.8%) would be highly accretive and beneficial to shareholders if financed correctly.
    • Feldman notes the geographic mix of the two sporting goods retailers is complementary.
    • Though Cabela's is undergoing a strategic review, there's been no official indication that Dick's is in the mix.
    • Shares of Dick's and Cabela's have both trailed broad retail stock averages this year.
    | Dec. 22, 2015, 11:24 AM | 2 Comments
  • Nov. 23, 2015, 4:55 PM
    • Cabela's (NYSE:CAB) is generating takeover interest at a share price in the $50s, but it may take a much higher number to satisfy certain longtime investors, Bloomberg reports.
    • Even as CAB sales and profit growth have sputtered, shareholders such as London Co. of Virginia and the Matthew 25 Fund see a strong brand with long-term expansion prospects, as well as lucrative credit card business with nearly $5B in loans and real estate holdings worth ~$1B, the report says.
    • Mark Mulholland, who runs Matthew 25, says he would refuse anything below $72 in the event of a takeover attempt for CAB, which would be a ~50% premium over today’s closing price of $46.50.
    | Nov. 23, 2015, 4:55 PM | 1 Comment
  • Nov. 19, 2015, 5:58 PM
    • Cabela's (NYSE:CAB+8.5% AH following a Bloomberg report that it is fielding potential takeover interest and weighing whether to begin a sales process, and that rival Bass Pro Shops is working with JPMorgan Chase to help explore a bid.
    • CAB is working with its regular advisers at Guggenheim Partners, which is reaching out to a small group of potential P-E buyers and strategic acquirers, according to the report.
    • The report also says several buyout firms have expressed interest in a deal that may value CAB’s in the mid- to high $50s.
    | Nov. 19, 2015, 5:58 PM | 1 Comment
  • Sep. 18, 2014, 1:30 PM
    • Bass Pro Shops hires Moelis to help it explore financing options.
    • Sources say a sale of a minority stake, likely to a P-E firm, would value the retailer in the billions.
    • A capital-heavy Bass Pro could pose a threat to Cabela's (CAB -0.8%) and to a lesser extent Dick's Sporting Goods (DKS) if expansion is part of the plan.
    | Sep. 18, 2014, 1:30 PM