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Gasitman
Site Supporter
Location: Fife Joined: Fri Mar 18, 2011 Posts: 1688
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_________________ 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…
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Mon Jan 17, 2022 12:49 pm |
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TechnoWeenie
Site Supporter
Location: Nova Laboratories Joined: Tue Oct 25, 2011 Posts: 18469
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."
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Mon Jan 17, 2022 1:08 pm |
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Wacarry
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? I’d bet with a lot of lawyers lol. My guess is Sportsman’s is seeing growth and wants out to grow on their own.
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Mon Jan 17, 2022 1:46 pm |
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rodell
Site Supporter
Location: Free At last in NC! Joined: Wed Nov 28, 2012 Posts: 703
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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!
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Mon Jan 17, 2022 1:49 pm |
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NWGunner
Site Supporter
Location: South Seattle Joined: Thu May 2, 2013 Posts: 12475
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 BidenI 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/
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Mon Jan 17, 2022 3:13 pm |
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bearhunter99
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 BidenI 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.
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Mon Jan 17, 2022 4:20 pm |
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Ace
Location: KC area Missouri Joined: Sat Sep 10, 2016 Posts: 1573
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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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NWGunner
Site Supporter
Location: South Seattle Joined: Thu May 2, 2013 Posts: 12475
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.
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Mon Jan 17, 2022 4:39 pm |
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DoveRelease
Site Supporter
Location: Arlington wa Joined: Tue Oct 30, 2018 Posts: 1185
Real Name: Patrick
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bAss pro ruined cabelas. They are turning into another POS like dicks.
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Mon Jan 17, 2022 7:17 pm |
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MadPick
Site Admin
Location: Renton, WA Joined: Sun Mar 13, 2011 Posts: 52064
Real Name: Steve
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You guys seem to have problems with your Shift keys.
_________________SteveBenefactor Life Member, National Rifle AssociationLife Member, Second Amendment FoundationPatriot & Life Member, Gun Owners of AmericaLife Member, Citizens Committee for the Right to Keep and Bear ArmsLegal Action Supporter, Firearms Policy CoalitionMember, NAGR/NFGRPlease support the organizations that support all of us.Leave it cleaner than you found it.
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Mon Jan 17, 2022 7:23 pm |
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NWGunner
Site Supporter
Location: South Seattle Joined: Thu May 2, 2013 Posts: 12475
Real Name: Steve
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Mon Jan 17, 2022 7:25 pm |
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ViniVidivici
Location: Puyallup Joined: Tue Sep 18, 2018 Posts: 3073
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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...
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Mon Jan 17, 2022 7:49 pm |
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Unicorn
Joined: Tue Apr 19, 2011 Posts: 2604
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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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scrid2000
Site Supporter
Location: Pierce County Joined: Wed Nov 14, 2018 Posts: 1992
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.
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Tue Jan 18, 2022 5:02 pm |
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Diamondback
Location: Sodom & Gomorrah on Puget Sound Joined: Wed Nov 21, 2012 Posts: 1673
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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?
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Tue Jan 18, 2022 5:47 pm |
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