News! Cabela's closing stores January 1st with sale to Bass Pro on Nov 9th.

[SpaceCritter]

I'm not a betting man but my spidey sense says this is a done deal and it's going down as anticipated. Why? Well, Cabela's is a large operation and they must, of course, be absolutely aware of the TV report from Billings yet no one has come forward from either BPS or Cabela's with a retort. Saying nothing is sometimes louder than saying something.

Then I looked at a map of where all the Cabela's are and then where the BPS are. Looks to me that there is a satisfactory number of areas that BP has no presence, INCLUDING Billings, Montana. They are a HUGE fishing area as anyone who's been there will know. Hunting, too. The pheasants there are wild and there's a plethora of 'em. Been there and done that.

The maps clearly showed where there would be a bunch of overlap. I'm confident that the lines have already been drawn by the buyers team of planners and they already know which stores will stay and leave. We can only speculate. But I'm laying odds that I'm right and because neither BPS or Cabela's has come forward, this is a done deal and stock holders and credit card holders with points to use are getting nervous. I would.

Rome

This, especially when Elliott - known for strong-arming "strategic" corporate moves like sales - bought 11%.

 

[SIG-owner]

Bummer! Well all I can hope is that they keep the Berlin store, and it's awesome selection of ammo. I live much closer to BP, but drive out of my way to Cabelas for all my supplies. I lost faith in BP keeping their shelves stocked a while ago. Maybe this will be a false alarm.

 

[Varmint]

I almost bought cabela stock last year

This story is false, if it were true, the stock would have spiked this week, but nothing.

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=cabela's stock

This kind of info always leaks out to big investors.

 

[dcmdon]

Another case for buying local & staying away from the huge retailers.
Support the little guys, or they will not exist.
I know Cabelas was a chain too, but at least they were local.

Yes, and they provided goods and services at a local level that you can not get anywhere else.

 

[dcmdon]

Shareholders don't vote on things like this - they nominate a BOD to do that. Also, it's not uncommon for deals to be struck and then await due diligence and regulatory scrutiny before finalizing.

This depends on the situation and distribution of stock. Where one constituency holds a majority of the stock and wants to sell, the votes of the others don't matter. The family apparently still owns about 25% of the corporation, which is a pretty strong position. BTW, my wife also worked at DEC at the time and we owned stock.

The thing is, the BOD and C suite folks have a fiduciary responsibility to maximize shareholder wealth. Anything else and they are literally breaking the law.

So if your stock is trading at $50/share, and someone comes along and offers you $100/share, they have a legal obligation to consider the offer.

Often when this happens and a company is known to be "in play" others will step up with alternate offers above the $100/share offered by the first company.

Either way, the BOD and C level folks don't have a fiduciary responsibility to their employees, like they do to their shareholders.

Shareholder class action suits are common after an attempted M&A deal, whether or not the deal goes through. Sometimes it goes through and shareholders complain that they could have gotten more. And sometimes it doesn't go through and the shareholders sue because they feel management should have worked harder to get the deal to completion.

Don

 

[Cabinetman]

This link puts some of the financials in order. Cabela's is about 25% of the size of BPS in revenue
and it's clear that there's something going on with their stock.

http://www.charlotteobserver.com/sports/other-sports/article44262768.html

 

[just jim]

I don't shop at Cabelas, we have two here about 40 miles away and they really don't offer much I can't get on line.

 

[drgrant]

As for BP keeping Cabela's like it is, no chance in hell, that is not how buy-outs work. They may keep some products, some labels, etc. but they won't suddenly start carrying Herter's bulk ammo, increase the depth of reloading supplies, suddenly start selling C&R and surplus long guns, etc.

Depends on how they structure management, etc. Nobody really knows yet. Unless Cabelas was losing a lot of coin, they'd be stupid to change the formula much. Anyone with a brain knows they have people who would buy from one store and not the other.

It'd be different if we were talking about something like "Dicks buys Cabelas" then yeah... that'd be a shit show.

-Mike

 

[mark056]

I like Cabelas for the reasons already cited. Not much of a BP fan, but Im not anti BP.

At this juncture there is waaay too much speculation here at the NES ladies sewing circle IMO. I imagine that the people at corporate are still hammering out details and they don't even have a final concept down yet. Suffice to say the Cabelas brand has name value. On the other hand I remember when the Marriott Corp acquired the Howard Johnson restaurant chain primarily to put it out of business.

The only good thing that this thread does for us ladies is that it diverts our attention from all the presidential candidates and the antics of the Kardashian clan so this is in and of itself not a bad thing.

 

[MrJones79]

As for BP keeping Cabela's like it is, no chance in hell, that is not how buy-outs work. They may keep some products, some labels, etc. but they won't suddenly start carrying Herter's bulk ammo, increase the depth of reloading supplies, suddenly start selling C&R and surplus long guns, etc.

Not true. First, are there any hard details publicly available yet? I've yet to see anything but speculation but maybe I missed something. Second, if BP simply purchase a controlling interest in Cabelas, they can do whatever they want. They can do it through hostile (proxy fight) or amicable (negotiated) means. Plenty of mergers have taken place where the target simply is consolidated in the parents financials and continues operating under their own name. Actually true mergers almost never happen. Either one company is absorbed and ceases to exist or the parent simply controls the target. Granted, I do agree in THIS case I would think BP eliminates the Cabelas name altogether and takes over some of their retail space under the BP name. But to say that's "not how buyouts work" would not be accurate.

 

[jefftk]

I like Cabelas for the reasons already cited. Not much of a BP fan, but Im not anti BP.

At this juncture there is waaay too much speculation here at the NES ladies sewing circle IMO. I imagine that the people at corporate are still hammering out details and they don't even have a final concept down yet. Suffice to say the Cabelas brand has name value. On the other hand I remember when the Marriott Corp acquired the Howard Johnson restaurant chain primarily to put it out of business.

The only good thing that this thread does for us ladies is that it diverts our attention from all the presidential candidates and the antics of the Kardashian clan so this is in and of itself not a bad thing.

Huhhh?? Speculation?

Dude, didn't you read the thread title? It says stores are closing Jan 1st!
What more hard facts do you need?

 

[bigblue]

Huhhh?? Speculation?

Dude, didn't you read the thread title? It says stores are closing Jan 1st!
What more hard facts do you need?

I see no hard facts that have been corroborated by any other source. Some ****ing podunk news station in Billings isn't exactly a reputable source.

 

[mark056]

Huhhh?? Speculation? Dude, didn't you read the thread title? It says stores are closing Jan 1st! What more hard facts do you need?

Once again DUDE critical reading skills and more importantly corroboration from more than one source.

What we know DUDE is there is apparently some move afoot to merge the two companies. What we don't know DUDE is precisely what the marketing strategy is. We know that there are some Cabela's employees who are upset about it and of course we Gossipy Ladies of the NES like me and you DUDE just have to speculate on what this merger will be like after the deal is done.

Do you now understand my position DUDE I'm not taking the word of a single source as final and absolute truth. Until more FACTS emerge is speculative.

 

[jefftk]

Once again DUDE critical reading skills and more importantly corroboration from more than one source.

What we know DUDE is there is apparently some move afoot to merge the two companies. What we don't know DUDE is precisely what the marketing strategy is. We know that there are some Cabela's employees who are upset about it and of course we Gossipy Ladies of the NES like me and you DUDE just have to speculate on what this merger will be like after the deal is done.

Do you now understand my position DUDE I'm not taking the word of a single source as final and absolute truth. Until more FACTS emerge is speculative.

I understand your position, Miss. I'm not sure you understand mine - or sarcasm.

I'll provide a link to earlier in this thread to assist your understanding.
http://www.northeastshooters.com/vb...o-on-Nov-9th?p=4738812&viewfull=1#post4738812

 

[mark056]

I understand your position, Miss. I'm not sure you understand mine - or sarcasm. I'll provide a link to earlier in this thread to assist your understanding. http://www.northeastshooters.com/vbulletin/threads/295276-News!-Cabela-s-closing-stores-January-1st-with-sale-to-Bass-Pro-on-Nov-9th?p=4738812&viewfull=1#post4738812

You could say the same about my sarcasm Ma'am. (at my age I appreciate being called Miss, I usually get referred to as Madam which I'm sure you will agree has certain odious connotations)

 

[Cabinetman]

Here's the latest and some clear explaining of what's happening:

http://www.omaha.com/money/cabela-s...cle_91cb2566-a32c-5c83-a20b-99debfd9c0c2.html

 

[bigblue]

"One reason Cabela’s could be keeping mum is because the Cabela family owns at least 24 percent of the company, as of April. The family might feel that with such a large stake, Elliott isn’t a threat, Park said"

Nobody knows wtf is going on at Cabelas.