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Article Date: March 2017
Word Count: 293

Bass Pro Purchase of Cabela’s Hinges on Bank Deal


The emergence of Synovus Financial Corp, a regional bank based in Georgia, as a buyer for Cabela’s credit card business could remove a remaining impediment to the long-delayed merger. The terms of the deal reportedly call for Synovus to acquire the $5.5 billion World’s Foremost Bank from Cabela’s, strip out the approximately $1 billion in deposits held by the bank, and sell the remaining credit-card portfolio to Capital One. Given Synovus’ relatively small size and lack of Capital One’s baggage, regulatory approval should be easy to achieve.

 

The clock on the Bass Pro-Cabela’s deal has been ticking louder and louder as ... Log in to view full article.

 


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