Cabela's stock soars on report about credit card unit sale

 


SIDNEY (AP) — Shares of Cabela’s soared following a report that the sale of its credit card unit and the $4.5 billion sale of its retail business to Bass Pro Shops had been revitalized.

The Wall Street Journal reported Wednesday that regional bank Synovus Financial based in Columbus, Georgia, was negotiating a role in the deal.

Previously, Cabela’s had said Capital One’s proposed purchase of the credit card unit attracted additional scrutiny that could have delayed the transaction.

The Federal Trade Commission has also requested additional information on the deal.

Cabela’s stock had declined since last year because of the deal questions. It jumped more than 12 percent to $52.04 Wednesday before falling back to $51.01 in after-hours trading.

Privately held Bass Pro agreed to pay $65.50 cash per share in the deal.


 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2018