Retail News

White knight may rescue Bass Pro Shops deal for Cabela’s

The Wall Street Journal 03/29/2017

Synovus Financial, a bank headquartered in Georgia, may acquire Cabela’s store-brand credit card business and sell it to Capital One Financial Corp. Bass Pro Shop’s acquisition of Cabela’s was held up when Capital One, which was going to acquire banking and credit card business, announced it would run into regulatory approval headwinds should it conclude the deal. The same regulatory issues would not come into play if Synovus purchases the business to resell to Capital One sans $1 billion in deposits held by Cabela’s bank.

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