Activist investor buys Cabela’s shares

Cabela’s, the Nebraska-based retail chain that sells hunting, fishing and camping supplies, is being targeted by activist investor Elliott Associates, which disclosed an 11 percent stake in the company and said it may push for a shakeup or leveraged buyout.

Shares in Cabela’s rose the most in five years Wednesday.

Elliott sees Cabela’s as a possible takeover target, with private equity firms or other retailers serving as buyers. Bidders also might be interested in Cabela’s “substantial” assets, Elliott said in the filing.

The investment firm plans to hold discussions with the chain’s board and management about options that could include a sale, changing the capital structure or reshuffling management and operations.

Bloomberg News

This story was originally published October 28, 2015 at 2:40 PM with the headline "Activist investor buys Cabela’s shares."