Salem Radio Network News Friday, January 28, 2022

Business

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

(Reuters) – Outdoor sporting goods retailer Sportsman’s Warehouse Holdings Inc and Great Outdoors Group, owner of the Bass Pro Shops chain, have called off their merger deal, according to a regulatory filing on Thursday.

The decision follows feedback from the U.S. Federal Trade Commission (FTC) that led the companies to believe they would not receive clearance to close the deal, according to the filing.

Under Chair Lina Khan, the FTC has taken an aggressive stance on mergers. Earlier on Thursday, the commission also announced it had sued to block U.S. chip company Nvidia Corp’s more than $80 billion planned acquisition of British chip technology provider Arm.

The Sportsman’s Warehouse deal was originally announced in December last year.

(Reporting by Juby Babu in Bengaluru; editing by Richard Pullin)

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