Cabela’s has announced shareholders have agreed to the sale announced in October.
A short meeting at the company headquarters in Sidney sealed the deal with Bass Pro. Cabela’s shareholders will be paid $61.50 per share.
Nearly 80% of the Cabela’s shareholders voted in favor of the sale.
“Today’s results are an important milestone as we look forward to completing the merger and creating the premier retailer in outdoor sporting goods, with an unparalleled commitment to customer loyalty and satisfaction,” said Cabela’s Chief Executive Tommy Millner in a written statement released by the company.
In October, Cabela’s revealed that Bass Pro, headquartered in Springfield, Missouri, sought to buy the company and consolidate under the Bass Pro name.
Bass Pro has given no indication how many of the 1,000 Cabela’s jobs it will maintain in Sidney.
The final word will come from the Federal Reserve. It must approve of the sale of Cabela’s credit card operation, World’s Foremost Bank, before the retail sale is finalized.