Did everybody really think this was going to happen.

And now it looks like Gander Mountain is about to declare bankruptcy.

Lol, what exactly is "his level"? And to be clear this all happened because Cabelas was struggling financially and in play. Without their card business they were in trouble. So tell me again what "notch" they're on?

Lastly, I hate to be the guy bringing facts to an opinion party but BPS wasn't the only suiter with their eyes on Cabelas, they had to bid for it. So your beloved Cabelas was headed into the hands of someone else regardless.

Yep and I still think it will happen.

Well if this is true it might have something to do with their pricing. Lol

I didn't expect you would agree. You're entitled to your opinion.

Competition is good for business, so having more than one 800# gorilla in the game is typically good for consumers. We'll lose a big influence in that respect if Johnny's "sometimes higher prices than MSRP" mentality leaves consumers less options.

If Cabela's was in so much trouble, then why was it attracting competitive bidding? Many businesses in the process of self-flushing are sold off at a heavy discount. The fact is, what's called an "activist trader" (aka finance whore) felt that the company's stock was actually under-valued. If he owned enough of it, he could force a sale, thereby making a quick tidy profit. He didn't care to be in the retail sporting goods business long term, he just wanted to flip it fast, regardless of who got shafted by such a move. He bought a chunk of Cabela's stock for the express purpose of stirring this up. He's even done this to other companies in the past, again, just to make that quick buck.

Sometimes a company can be of indirect value to its customers even without the customer's knowledge. An example would be the history of a little rod company by the name of Loomis. Some of you may have heard of it. If you think we don't really need quality acts like Cabelas, go check into what made it possible for Loomis to start his company.

I would be good if the deal fell thru, I like having Cabela as competition.

I can only see this as eliminating competition and BPS raising prices even more.

A lot of what you said is true RR. America's history is rife with the bigguns buying the littleun's. It's a product of capitalism and sometimes it works for everyone. YUM brands come to mind which at one time owned the fast food market, still owns KFC, Taco Bell and Pizza Hut. But they don't compete with each other like McDonalds and Jack in the Box do. If this deal goes and Morris ends up buying them there won't be real competition because they mostly are in the same business. Mr. Morris owns or controls Ranger, Triton and Stratos ( I think it's known as Platinum ) so it's a win-win with that competition for him. He also owns Tracker which pretty much dominates in that market. He does have competition and good competition from Skeeter ( which was bought by Yamaha ) Legend, Phoenix and Bass Cat which has also been bought out. Competition is great for the consumer and also forces manufacturer's to continually upgrade their products. Competition among gas stations, auto parts, phone companies, groceries, etc. has worked great for the consumer and we have to give credit to the FTC for much of it. I'm not sure how much Cabela/s compete's with BPS since they are so far apart. If they were right across the street from each other like service stations are we might see a difference but they and Academy are scattered and I'm thinking that comes into play when a lot of folks decide where they will shop.
We'll see what happen's with this deal. I'm guessing with Mr. Morris's other acquisitions in the marine industry the FTC will drag this thing out until both parties give up and move on. Cabela's will be bought though, just anyone's guess who and when.

When was Legend and Phoenix bought out?

They weren't , too many comma's and not enough periods. Should have been in another sentence.

Wow, just saw a new store on the north side of Frisco.

I can see both perspectives on this issue.
Glass half full
Buying power, could bring prices down
Maybe they'll take the best of both and put them in the same stores? So this way if you don't have a Cabelas near by, but do have a BPS, you can still get Cabelas' stuff. Would allow them to not have to build more expensive facilities.
Cabelas is better off with a sporting goods store buying them than another group that doesn't know or care about the outdoors sports.

Glass half empty:
Lack of competition can be bad for consumers, good for businesses.
Quality go down, prices go up.

First thing I thought of was monopoly issues. I can't imagine that BPS legal division did not anticipate this or any other obstacles that may come up.
Unfortunately we won't know whether the intent is to make money or maintain quality at fair prices until its all over and done. Just as we have to wait and see on Ranger. Did JM buy it to save it or eliminate the competition? Time will tell.

There were two bidders because of the credit card business. That was the primary interest of the second group and also the group that's partnered with BPS. And I'm aware of who EMC is and what they're known for. If I had money in their fund I'd appreciate their expertise and savvy. And what's wrong with a quick buck? They don't always have to be slow bucks to matter. When a company goes public and can't effectively manage their business these kinds of things happen. Sorry but the market got to decide their fate once they chose to go public.

This deal may take some time but they'll get it done. Everyone will adapt and move forward regardless of what side they're on.

I haven't done my research on Cabela's situation or looked at their financials, but a company holding the type of assets they hold doesn't trade in a fire sale. I think we can all agree that they have some excellent product lines, assets, and in particular real estate holdings, that will demand a price beyond the market cap of the stock.

I think this is a real estate play as much as anything. If Cabela's owns their stores, the cost of buying and developing the real estate in today's market is a major player in this. If they lease, I'm sure they are still well below market rents on many of their stores. Thus giving BPS a lower cost basis and the potential for rapid expansion.

Don't mistake who BPS is competing with here. They're fighting a battle against online competitors. They have to build this extravagant store just to get their customers through the door. It's about an experience not fishing rods and worms.

As for gander, good riddance. They're about 30% higher than academy on everything, with 1/4 of the experience that BPS or Cabelas offers. They don't do anything other than select merchandise well.