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Fair Trade Commission requests additional information for pending Cabela's merger

More information has been requested by the Fair Trade Commission (FTC) in the pending Cabela’s merger with outdoor retailer Bass Pro Shops.

A Securities and Exchange Commission (SEC) filling on Thursday stated that Bass Pro and Cabela’s received requests from the FTC for “additional information and documentary material, commonly referred to as a second request”

The request is pursuant to the Hart-Scott-Rodino (HSR) Antitrust Improvements act of 1976. A United States law enacted by President Ford that requires large companies to file a report with the FTC and Department of Justice before completing a merger so that government regulators can determine whether the transaction would violate antitrust laws.

Antitrust laws are the laws that apply to virtually all industries and to every level of business, they prohibit a variety of practices that restrain trade.

In the SEC filing by Cabela’s the company stated “the issuance of such a ‘second request’ does not indicatethat the FTC has concluded that the transaction raises competition concerns. The ‘second request’ reflects a determination by the FTC that it requires additional information to assess the proposed transaction.”

The FTC request does prolong the process however, extending the waiting period of the outdoor retailers merger.

Cabela’s continues to expect clearance under the HSR Act and the Competition Act during the first half of 2017, but the same can not be said for the Cabela’s World’s Foremost Bank.

As part of the merger, Capitol One announced it would take over operations of the World Foremost Bank in Lincoln.

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