news must be coming soon!
talk has been that credit card operation has a deal and that its conditioned on the rest of the operations being sold at same time. Likely reason for it taking so long and reason for wording in SEC filing.
Cabela's May Be Getting Ready to Sell Its Bank By Investopedia | June 27, 2016 — 3:35 PM EDT
The possibility of a buyout of Cabela's (NYSE: CAB) has been the subject of a lot of speculation since private equity firm Elliott Management disclosed an 11% stake in the sporting goods retailer, and was said to be pushing for significant changes to be made in the business. In December, Cabela's said it was undergoing a strategic review, and it was rumored privately held rival Bass Pro Shops was working with global investment giant Goldman Sachs on putting together a bid for its rival.
However, in a recent filing with the SEC, the sporting goods retailer said that it's a real possibility that the part of its business that will be sold will be its bank -- at least initially.
The sporting goods chain is said to be the only retailer left that still owns its own credit card operations. Nordstrom was the only other retailer still issuing its own private-label cards to customers until last October, when it sold the business to Canada's Toronto-Dominion Bank. Other retailers got out of the credit card business over the years, particularly following the Great Recession -- among them, Target, which also sold its bank to T-D. Although Wal-Mart had long wanted to create a bank, the industry fought it tooth and nail, and the giant retailer ended up giving up the idea of going into the banking business.
Cabela's World's Foremost Bank has also been being eyed by financial institutions since the strategic review became public; earlier this year, reported that Citigroup, Bank of America, Capital One Financial, Synchrony Financial, and, yes, Toronto-Dominion were all interested in acquiring its credit card portfolio.
In its recently filing, Cabela said the sale could include, "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."
Shedding the bank actually might make the retail operations more attractive to Bass Pro Shops, which would likely be wary of acquiring the financial business too. And while private equity might be interested in buying its retail operations, Cabela's firearms sales may make some hesitate in light of the ongoing issue of mass shootings.
Read more: Cabela's May Be Getting Ready to Sell Its Bank | Investopedia http://www.investopedia.com/stock-analysis/062716/cabelas-may-be-getting-ready-sell-its-bank-cab.aspx#ixzz4CoV4pRA8
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another really weak hatchet job from shorts, their reasons are getting so weak! lol
It's not even worth reading!
they are predicting end of june/early july. With stock down to 46.50, good place for a nice run on deal
I think that is key to something is very very close to being announced. The reports in Post and WSJ saying end of june is big clue, where there is smoke their is fire! Do I hear 60.00 ! : )
Singer wants a sale, the "clean up" that Cabella's has done over last 6 months is to get the top dollar for a lean operation and producing best earnings and cash flow to justify it.
anybody else notice the perfect flag formation in the charts on RLYP and that the 50 and 200 day moving averages are on brink of 50 breaking over 200 day. Move above 20 on good volume would signal this is going to make a major move up.
the guy is a quack, why even give him the credence to listen to him anymore! HE IS SO WRONG!
Watch June numbers explode and announcements of added coverage by many, many more insurance companies.