The Sidney Sun-Telegraph - Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper

Wal-Mart.com USA, LLC

Cabela's shareholders voted for sale

 


Cabela’s shareholders Tuesday voted overwhelmingly for the sale to BassPro.

According to a U.S. Securities and Exchange Commission filing, approximately 78 percent of the outstanding shares of common stock voted in favor of the proposal.

Roughly 54 million voted in favor of the merger, with only 154,853 against and

233,896 abstaining.

A vote was also held on merger-related compensation for executive officers.

The non-binding advisory vote approved compensation “that may be paid or become payable to the company’s named executive officers,” according to the report.

Approximately 67 percent of the shares voted in favor of the proposal, with roughly 36.6 million in favor, with 16.4 million against and 1.3 million abstaining.

Tommy Millner, Cabela’s chief executive officer, lauded the support for the sale in a statement.

“We are pleased that our combination with BassPro Shops has received the overwhelming support of Cabela’s shareholders,” Millner wrote. “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.”

Actions remain still to complete the merger.

“The bank purchase still needs to be approved,” Nathan Borowski, Cabela’s communications specialist, told the Sun-Telegraph Wednesday. “As far as plans and everything going forward, we do not have any of that information at this time.”

 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2017

Rendered 07/13/2017 14:10