Bass Pro Reels In Cabela's

(RTTNews) - The anti-trust regulators have approved the merger between fishing and hunting equipment retailer Cabela's (CAB) and rival Bass Pro.

Cabela's shareholders are scheduled to vote on the deal on July 11.

The merger deal is expected to close in the third quarter. The completion of the deal is contingent on the successful sale of Cabela's financial unit to Synovus Financial (SNV) and Capital One Financial (COF) .

In April, Cabela's agreed to be acquired by Bass Pro for $61.50 a share.

Initially, in October, Bass Pro Shops had offered to buy Cabela's for $5.5 billion. However, the deal did not materialize and the terms of the deal changed after Cabela's price plunged by $500 million and Cabela's agreed to sell its financing unit to Synovus and Capital One.