Shares of Cabela’s Inc. soared 15% in premarket trade Monday, after the sporting goods retailer announced a deal to be acquired by Bass Pro Shops in a deal valued at $5.5 billion. Under terms of the deal, Bass Pro Shops will pay $65.50 for each Cabela’s share outstanding, which represents a 19% premium to Friday’s closing price of $54.93. Upon closing of the deal, Bass Pro Shops will enter into a multiyear partnership with Capital One Financial Corp. to originate and service Cabela’s co-branded credit card, with all Cabela’s CLUB points being unaffected. Cabela’s stock had climbed 18% year to date through Friday, while the SPDR S&P Retail ETF had inched up 0.7% and the S&P 500 had gained 6.1%.
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