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Nebraska retailer sought sale before hedge fund pressure

OMAHA, Neb. (AP) — Financial documents show Cabela’s had been trying to sell itself months before an investor declared its big stake and publicly pushed for the sale.

Documents filed with the Securities and Exchange Commission this week detail the yearlong process to sell the Nebraska-based outdoor gear retailer.

Filings show Cabela’s management privately discussed selling the company as early as June 2015.

Elliott Management, a New York-based hedge fund, declared an 11 percent stake in October 2015, saying it would press for a sale. Elliott was in contact with Cabela’s before its declaration.

Bass Pro Shops announced in October 2016 it would buy Cabela’s for $5.5 billion, consolidating headquarters in Springfield, Missouri. Cabela’s is currently headquartered in Sidney, a city west of Omaha.

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