In an open letter from Bass Pro Shops founder and CEO Johnny Morris on Monday, the popular sporting goods franchise announced the acquisition of rival outfitter Cabela's in a roughly $5.5 billion deal - or $65.50 per share.
According to the statement, the transaction is expected to close in the first half of 2017, subject to the customary conditions and reviews. Until that time, both businesses will continue to operate as separate, independent companies.