Outdoor retailer Bass Pro Shops is considering an option to purchase Sidney-based Cabela’s, according to an exclusive report from Reuters.
The report, published late Thursday morning, cited unnamed sources and said that Bass Pro Shops declined comment, while Cabela’s could not be reached for comment.
The news, which could potentially be catastrophic for Sidney, comes on the heals of activist investor Elliott Management’s disclosure of his ownership of 11 percent stake in the company. In the disclosure, Elliott called for it to explore options, including selling the company.
Bass Pro Shops is headquartered in Springfield, Missouri. It is unclear what impact a potential sale would have on the current large corporate presence in Sidney.
The unnamed sources said that Bass Pro is working with an investment bank on making a potential offer, and Cabela’s has been exploring its options to solicit interest from private equity firms.
The news agency reported that shares of Cabela’s jumped as much as 13 percent on the news.