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Nebraska retailer sought sale before hedge fund pressure | KRVN Radio

Nebraska retailer sought sale before hedge fund pressure

OMAHA, Neb. (AP) _ Financial documents show Cabela’s had been trying to sell itself months before an investor declared its big stake and publicly pushed for the sale.

The Omaha World-Herald reports that documents filed with the Securities and Exchange Commission this week detail the yearlong
process to sell the Nebraska-based outdoor gear retailer.

Filings show Cabela’s management privately discussed selling the company as early as June 2015.

Elliott Management, a New York-based hedge fund, declared an 11 percent stake in October 2015, saying it would press for a sale. Elliott was in contact with Cabela’s before its declaration.

Bass Pro Shops announced in October 2016 it would buy Cabela’s for $5.5 billion, consolidating headquarters in Springfield, Missouri. Cabela’s is currently headquartered in Sidney, a city west of Omaha.

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