Ca­bela’s stock rises on re­port of unit sale.

The Denver Post - - BUSINESS -

Shares of Ca­bela’s soared af­ter 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, Ga., was ne­go­ti­at­ing a role in the deal.

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

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

Ca­bela’s stock had de­clined since last year be­cause of the ques­tions. It jumped more than 12 per­cent to $ 52.04Wed­nes­day be­fore fall­ing to $ 51.01.

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

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