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Sportsmans warehouse changing hands again, well kind of
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Site Supporter   Location: Fife Joined: Fri Mar 18, 2011 Posts: 1688 
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 You do not have the required permissions to view the files attached to this post. _________________ A long time ago we had empires run by emperors. Then we had kingdoms run by kings. And now we have countries run by Cu… |
| Mon Jan 17, 2022 12:49 pm |
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Site Supporter  Location: Nova Laboratories Joined: Tue Oct 25, 2011 Posts: 18446 Real Name: Johnny 5
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How does one terminate a merger agreement?
Did one end not hold up their side of the contract? _________________ NO DISASSEMBLE! Thomas Paine wrote: "He that would make his own liberty secure, must guard even his enemy from oppression; for if he violates this duty, he establishes a precedent that will reach to himself." |
| Mon Jan 17, 2022 1:08 pm |
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Site Supporter  Location: Olympia Joined: Sun Oct 16, 2011 Posts: 3696 Real Name: Kelley
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TechnoWeenie wrote: How does one terminate a merger agreement? Did one end not hold up their side of the contract? My guess is Sportsman’s is seeing growth and wants out to grow on their own. |
| Mon Jan 17, 2022 1:46 pm |
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Site Supporter  Location: Free At last in NC! Joined: Wed Nov 28, 2012 Posts: 699
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TechnoWeenie wrote: How does one terminate a merger agreement? Did one end not hold up their side of the contract? It isn't unusual. If there are any changes in circumstances, or the detailed examination of the books revealed something they didn't like, or for practically any reason. In some agreements there is a breakup fee to cover any expenses or loss of market. A break up fee should be part of any marriage contract, too! |
| Mon Jan 17, 2022 1:49 pm |
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Site Supporter  Location: South Seattle Joined: Thu May 2, 2013 Posts: 12474 Real Name: Steve
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This happened back in December, the only thing new is the CEO announcing it.
The real reason it happened? Joe Biden I kid you not. “The companies received feedback from the FTC that they wouldn’t receive clearance to close the deal…” “ It is believed the deal would not be approved due to a call for regulators to boost competition across all industries following an executive order signed in July by President Joe Biden.” Sportsman’s walks with a $55 mil termination fee from Great Outdoors. https://frontofficesports.com/sportsman ... ix-merger/ |
| Mon Jan 17, 2022 3:13 pm |
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Site Supporter  Location: Wenatchee Joined: Sat Aug 4, 2012 Posts: 353
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NWGunner wrote: This happened back in December, the only thing new is the CEO announcing it. The real reason it happened? Joe Biden I kid you not. “The companies received feedback from the FTC that they wouldn’t receive clearance to close the deal…” “ It is believed the deal would not be approved due to a call for regulators to boost competition across all industries following an executive order signed in July by President Joe Biden.” Sportsman’s walks with a $55 mil termination fee from Great Outdoors. https://frontofficesports.com/sportsman ... ix-merger/ Hahaha, Slow Joe finally did something positive. A merger with Bass pro would have ruined Sportsman's (although locally they are doing a bang up job on that on their own) just like they did to Cabelas. |
| Mon Jan 17, 2022 4:20 pm |
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Location: KC area Missouri Joined: Sat Sep 10, 2016 Posts: 1572
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My guess is that when bAss Pro bought Cabelas, that terminated the agreement Cabelas had with Sportsmans Warehouse. A lot of merger contracts have stipulations that a company can pull out if one company gets bought out. My guess is that sportsman's execs saw how bAss pro booted the Cabela's senior management and wanted none of that noise and had the get out of jail free card to play.
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| Mon Jan 17, 2022 4:23 pm |
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Site Supporter Location: South Seattle Joined: Thu May 2, 2013 Posts: 12474 Real Name: Steve
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Bass Pro completed the deal to buy Cabela’s in 2017.
The Agreement to buy Sportsman’s was signed in 2020. |
| Mon Jan 17, 2022 4:39 pm |
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Site Supporter Location: Arlington wa Joined: Tue Oct 30, 2018 Posts: 1184 Real Name: Patrick
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bAss pro ruined cabelas.
They are turning into another POS like dicks. |
| Mon Jan 17, 2022 7:17 pm |
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Site Admin   Location: Renton, WA Joined: Sun Mar 13, 2011 Posts: 52020 Real Name: Steve
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You guys seem to have problems with your Shift keys.
_________________ Steve Benefactor Life Member, National Rifle Association Life Member, Second Amendment Foundation Patriot & Life Member, Gun Owners of America Life Member, Citizens Committee for the Right to Keep and Bear Arms Legal Action Supporter, Firearms Policy Coalition Member, NAGR/NFGR Please support the organizations that support all of us. Leave it cleaner than you found it. |
| Mon Jan 17, 2022 7:23 pm |
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Site Supporter Location: South Seattle Joined: Thu May 2, 2013 Posts: 12474 Real Name: Steve
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| Mon Jan 17, 2022 7:25 pm |
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 Location: Puyallup Joined: Tue Sep 18, 2018 Posts: 3063
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MadPick wrote: You guys seem to have problems with your Shift keys. HA! Yeah, it's Ass Pro, get it right! They suck so much ass. This is good news for Sportsmans Whorehouse. Glad to hear it. _________________ I'm a Morlock, in a land of Eloi... |
| Mon Jan 17, 2022 7:49 pm |
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Joined: Tue Apr 19, 2011 Posts: 2603
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This was a very good thing. Bass Pro already damaged Cabellas, and those were two of, if not the two biggest sporting goods stores in the nation. Adding Sportsman's Warehouse would have eliminated anything resembling decent competition. I'm not including the fashion sports stores like Dicks or Big 5.
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| Tue Jan 18, 2022 3:45 pm |
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Site Supporter  Location: Pierce County Joined: Wed Nov 14, 2018 Posts: 1989 Real Name: Shane
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Unicorn wrote: This was a very good thing. Bass Pro already damaged Cabellas, and those were two of, if not the two biggest sporting goods stores in the nation. Adding Sportsman's Warehouse would have eliminated anything resembling decent competition. I'm not including the fashion sports stores like Dicks or Big 5. Dicks doesn't even carry ammo anymore do they? Big 5 carries less than WalMart. I'm glad this fell through, you may not like Biden but this deal died because of an executive order he signed requiring regulators to not allow actions that negatively impact competition in areas that they are regulating. Probably wasn't his intent, but credit where credit is due. _________________ Posts not legal advice. |
| Tue Jan 18, 2022 5:02 pm |
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 Location: Sodom & Gomorrah on Puget Sound Joined: Wed Nov 21, 2012 Posts: 1649
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Unicorn wrote: This was a very good thing. Bass Pro already damaged Cabellas, and those were two of, if not the two biggest sporting goods stores in the nation. Adding Sportsman's Warehouse would have eliminated anything resembling decent competition. I'm not including the fashion sports stores like Dicks or Big 5. Man, I miss GI Joe's... and even The Foxhole. _________________ Joe Biden is not now, nor will he EVER be, my President. Psalms 109:8 #F---JoeBiden - NRA & SAF LIFE MEMBER The NRA: Fighting Democrat Terrorists with Military-Style Assault Weapons Since 1871. What have YOU done to defend your gun rights against the idiots in DC and Olympia today? |
| Tue Jan 18, 2022 5:47 pm |
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