From a Fox News blurb from December 2019. This still bothers me - a lot. Follow the money? You bet!
Major Republican donor Paul Singer has very few fans in this town (Sydney, NE) of 6,300 people, where 80 percent of voters backed Donald Trump in 2016.
The town's mayor, Roger Galloway, told Tucker Carlson Tonight that the merger cost Sidney 2,000 jobs.
The sale of Cabela's to Bass Pro Shops was announced in 2016, a year after Singer's Elliott Management disclosed an 11 percent stake, and said Cabela's should explore a possible sale. Cabala's was profitable at the time, but in mid-November 2015, Elliott Management "stated that they believed the Company should be sold through a public auction process" and that if they didn't engage in the sales process, the hedge fund "was prepared to take further steps with respect to the Company," according to securities filings.
After the sale announcement, the stock price surged and Singer's hedge fund cashed out within a week. Elliott Management reportedly made at least $90 million.
The implication here is that the "merger" was not necessary and happened to fatten an already fat cat. I have complete respect for capitalism but this was just plain unfortunate.
About the time this was happening a hunting buddy was having buyer's remorse on a recent high-powered rifle purchase from Cabella's. He took back the new, in the box, rifle to see how much they'd give him for it knowing they'd low-ball him. He paid just over $800 for the rifle only weeks earlier. They offered him $150 for it. He related that even though he knew they'd try to hose him he flew into a rage (and he's not the raging kind). I was with him when he used this same rifle to take his first elk a few months later. He's learned to like it.