Outdoor Giant Cabela's Bought by Outdoor Giant Bass Pro Shops

Outdoor giant Cabela's has agreed to be bought by outdoor giant Bass Pro Shops. The $4.5 billion merger was announced Monday in a press release from the two companies.

The deal - in which bass Pro will play Cabela's stockholders $65.50 per share - gives Bass Pro a stronger foothold in the Pacific Northwest. Cabela's has five stores in Oregon and Washington.

The companies say that "a driving force behind this agreement is the highly complementary business philosophies, product offerings, expertise and geographic footprints of the two businesses."

While both chains are known for their ability to serve outdoor enthusiasts, Bass Pro Shops is known for its serving people who fish while Cabela's tends to attract hunters.

Bass Pro Shops is based in Springfield, Missouri while Cabela's is Nebraska based.

Photo Cabela's