Attached files
file | filename |
---|---|
8-K - 8-K - CABELAS INC | d422091d8k.htm |
Exhibit 99.1
Cabelas Stockholders Approve Combination with Bass Pro Shops
SIDNEY, Neb.(BUSINESS WIRE)Cabelas Incorporated (NYSE: CAB) today announced that its shareholders have approved the previously announced combination of Cabelas with Bass Pro Shops. The final vote results will be filed on a Form 8-K with the Securities and Exchange Commission. The transaction is expected to close in the third quarter of 2017, subject to regulatory approvals and customary closing conditions.
We are pleased that our combination with Bass Pro Shops has received the overwhelming support of Cabelas shareholders, said Tommy Millner, Cabelas Chief Executive Officer. Todays results are an important milestone as we look forward to completing the merger and creating the premier retailer in outdoor sporting goods, with an unparalleled commitment to customer loyalty and satisfaction.
About Cabelas Incorporated
Cabelas Incorporated, headquartered in Sidney, Nebraska, is a leading specialty omni-channel retailer of hunting, fishing, camping, shooting sports, and related outdoor merchandise. Since the Companys founding in 1961, Cabelas® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the Worlds Foremost Outfitter®. Cabelas offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabelas also issues the Cabelas CLUB® Visa credit card, which serves as its primary customer loyalty rewards program. Cabelas stock is traded on the New York Stock Exchange under the symbol CAB.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are based on the Companys beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words believe, may, should, anticipate, estimate, expect, intend, objective, seek, plan, confident, and similar statements are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause the Companys actual results, performance, or financial condition to differ materially from the expectations of future results, performance, or financial condition the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the satisfaction of the conditions precedent to the consummation of the proposed merger, including, without limitation, the receipt of regulatory approval; unanticipated difficulties or expenditures relating to the proposed merger; legal proceedings, judgments or settlements, including those that may be instituted against the Company, the Companys board of directors, executive officers and others following the announcement of the proposed merger; disruptions of current plans and operations caused by the announcement and pendency of the proposed merger; potential difficulties in employee retention due to the announcement and pendency of the proposed merger; the response of customers, suppliers, business partners and regulators to the announcement of the proposed merger; the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences, demand for firearms and ammunition, and demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Companys ability to successfully execute the Companys omni-channel strategy; increasing competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Companys
products, including increases in fuel prices; the availability of the Companys products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other interruptions or disruptions to the Companys systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations relating to firearms and ammunition; the Companys ability to protect the Companys brand, intellectual property, and reputation; the Companys ability to prevent cybersecurity breaches and mitigate cybersecurity risks; the outcome of litigation, administrative, and/or regulatory matters (including the ongoing audits by tax authorities and compliance examinations by the Federal Deposit Insurance Corporation); the Companys ability to manage credit, liquidity, interest rate, operational, legal, regulatory capital, and compliance risks; the Companys ability to increase credit card receivables while managing credit quality; the Companys ability to securitize the Companys credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services industry; and other risks, relevant factors, and uncertainties identified in the Companys filings with the Securities and Exchange Commission (SEC) (including the information set forth in the Risk Factors section of the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2016, and in subsequent filings), which filings are available at the SECs website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Companys forward-looking statements speak only as of the date of this press release. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts
Media:
Cabelas Incorporated
Corporate Communications, 308-255-1204
Media.Communications@cabelas.com
or
Joele Frank, Wilkinson Brimmer Katcher
Michael Freitag / Scott Bisang, 212-355-4449
Jed Repko / Joe Millsap, 415-869-3950
or
Investors:
Cabelas Incorporated
Andrew Weingardt, 308-255-7428