Cabela's Surge On Offer Reports

(RTTNews) - Shares of Cabela's Inc., a retailer of hunting, fishing and camping supplies, climbed more than 10 percent on Thursday, amid reports that rival Bass Pro Shops is mulling a bid for the company.

Closely-held Bass Pro is said to be working with an investment bank on a potential offer.

Cabela's has been going through difficult times with sluggish sales, leading to disappointing earnings.

After reporting unimpressive earnings last month, the specialty retailer said it had "significant weakness" in its fall apparel and footwear offerings.

Cabela's investor Elliott Associates has been persuading the company to explore its options, including a sale.

Elliott disclosed an 11 percent stake in the company last month and said it would conduct discussions with the retailer's management.

CAB closed up 10.2 percent at $43.56.