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Sportsman’s Warehouse ends merger with Great Outdoors over FTC clearance concerns -Breaking


© Reuters. FILEPHOTO: Lina Kan, who is the nominee for Federal Trade Commission Commissioner (FTC), testifies at a Senate Committee on Commerce, Science, and Transportation hearing on Capitol Hill, Washington, DC, U.S. April 21, 2020. Saul Loeb/Poo

(Reuters) – Outdoor retailer Sportsman’s Warehouse (NASDAQ) and Great Outdoors Group (owner of Bass Pro Shops) have canceled their merger agreement, according to a regulatory filing filed on Thursday.

This decision is based on feedback received from the U.S. Federal Trade Commission. According to the filing the company believed that they would not be granted clearance to close the deal.

FTC Chair Lina Khan took a strong stance against mergers. On Thursday, Nvidia Corporation (NASDAQ:) Corp announced that the FTC had filed a lawsuit to prevent its planned acquisition by Arm of British chip technology provider Arm for over $80 billion.

Original announcement of the Sportsman’s Warehouse deal came in December 2013.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.