Bass Pro purchase of Cabela’s clears its likely final hurdle as Fed approves bank buy

Cabela’s looks to have less than a month left as a stand-alone, Nebraska-based company. The Federal Reserve cleared the way late Wednesday for a Georgia bank to acquire Cabela’s credit card operation, removing the last hurdle for a Bass Pro Shops takeover of the homegrown outdoors retailer.

Bass Pro is set to buy Cabela’s retail business for $5 billion. The Fed’s approval cut it close: Oct. 3 was the merger deadline, after which all parties could have walked away from the deal or renegotiated the terms. The deal now looks set to be sealed — possibly within the week.

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