Sportsman's Warehouse Shares Fall 19% After Takeover Deal Terminated
December 03 2021 - 1:06PM
Dow Jones News
By Josh Beckerman
Sportsman's Warehouse Holdings Inc. shares fell 19% to $13.76
Friday after the company's planned acquisition by Great American
Outdoors Group was called off following unfavorable feedback from
the Federal Trade Commission.
On Thursday, Sportsman's Warehouse said that Great Outdoors, the
owner of Cabela's and Bass Pro Shops, agreed to pay Sportsman's
Warehouse a $55 million termination fee.
The FTC said Friday that it was pleased the companies called off
the merger, as the deal would have "harmed consumers through
increased prices, reduced product offerings, and diminished quality
and service."
The deal, announced in December 2020, was valued at $18 a
share.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
December 03, 2021 13:51 ET (18:51 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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