Cabela’s pairing up suitors, final bids weeks away

27 July 2016 - 12:00 am UTC

27 July 2016 – The Cabela’s (NYSE:CAB) sale process continues to move slowly as suitors work through complications around the company’s credit card business, two sources familiar with the matter and two sector advisors said.

The Sidney, Nebraska-based outdoor retailer is expected to run something of a speed dating round to match up suitors for its core retail operations with banks interested in buying its credit card unit, the first source said. These groups would then proceed to make combined bids for the entire company, he said.

The sector advisors estimated that Cabela’s may be in a position to take final bids in around three weeks. The process could, however, move into September in part dependent on the matchmaking. A Cabela’s spokesperson declined to comment.