The transaction, which took nearly a year to close and nearly two years after Elliott Management initiated its hostile effort to force a breakup and sale of the company, closed on the terms negotiated in the final amended purchase agreement at $61.50 per share, valuing the company at $5.0 billion. That was despite the ongoing deterioration of results at Cabela’s as it struggled to liquidate inventory in the wake of a big bet on robust sales from a Democratic victory last Nov. that failed to materialize.

It seemed that nothing was simple about this transaction. The initial terms of the deal ... Log in to view full article.