Outdoor apparel retailer Cabela's (CAB) announced on Tuesday that its shareholders voted to approve the company's combination with Bass Pro Shops.
Cabela's agreed in April to be bought by Bass Pro Shops for $61.50 a share, down from the original purchase price of $65.50 a share, valuing the acquisition at $4.2 billion.
The transaction is expected to close in the third quarter of 2017, and is subject to regulatory approvals and customary closing conditions.
"We are pleased that our combination with Bass Pro Shops has received the overwhelming support of Cabela's shareholders," said Tommy Millner, Cabela's CEO. "Today's results are an important milestone as we look forward to completing the merger and creating the premier retailer in outdoor sporting goods, with an unparalleled commitment to customer loyalty and satisfaction."
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