Bidders emerge for Cabela's

Cabela's has confirmed that it is considering a sale of all or parts of its business, including the potential sale of its credit card division.

The retailer filed a form 8-K with the Securities and Exchange Commission stating its board of directors had "initiated a process to explore and evaluate a wide range of strategic alternatives to further enhance Cabela's shareholder value."

"The results of this strategic alternatives review process could include, but are not limited to, a sale of Cabela's or one of its businesses, including a sale of the bank or its assets, or a transaction combining a sale of the bank or all or a portion of its assets to one or more purchasers and a sale of the parent company (including all of its merchandising business) to one or more other purchasers. Any such transaction could adversely impact Cabela's business, the bank and the Cabela's Club program."

Potential bidders include Apax Partners and TPG Capital, sources close to the matter told the New York Post.

Bass Pro Shops has also expressed interest, according to earlier reports.

Publicly traded Cabela's has slowed store expansion as profits declined, and the company recently canceled its annual shareholder's meeting.

For more:
- read this SEC filing
- see this New York Post story

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