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Cabela’s sought sale before hedge fund pressure | Rural Radio Network

Cabela’s sought sale before hedge fund pressure

Cabela’s sought sale before hedge fund pressure

Financial documents show Cabela’s had been trying to sell
itself months before an investor declared its big stake and publicly pushed for the sale.

The Omaha World-Herald reports that documents filed with the Securities and Exchange Commission this week detail the yearlong process to sell the Nebraska-based outdoor gear retailer.

Filings show Cabela’s management privately discussed selling the company as early as June 2015.

Elliott Management, a New York-based hedge fund, declared an 11 percent stake in October 2015, saying it would press for a sale. Elliott was in contact with Cabela’s before its declaration.

Bass Pro Shops announced in October 2016 it would buy Sindey based Cabela’s for $5.5 billion, consolidating headquarters in Springfield, Missouri.

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