Bristol awaits fate of stores after Bass Pro Shops/Cabela's merger approval
BRISTOL, Va. - The Federal Trade Commission gave its approval of Bass Pro Shops' purchase of Cabela's. That deal is valued at $4 billion.
Bristol, Tennessee's Pinnacle development has a Bass Pro Shop, and Bristol, Virginia's Falls has a Cabela's. Both are anchor stores.
"Bass Pro has quoted a time or two that they would like to continue to keep the brand Cabela's, so we hope that's true and we hope our store survives," said Don Ashley, chairman of Bristol, Virginia's industrial development board.
Cabela's stockholders will vote on the deal July 11.
We contacted Bass Pro Shops earlier today asking what would happen to Bristol's Bass Pro Shops and Cabela's stores. They did not provide any information on the Bristol stores gave us this statement:
"On July 3 the Federal Trade Commission unconditionally cleared the Bass Pro Shops/Cabela's merger to move forward. This announcement follows the clearance notice received from the Canadian Competition Bureau in early May which also voted to approve the transaction with no restrictions. While there are still other steps in this process, today's news is very positive and we look forward to keeping our customers and team members updated as we move ahead."