By Josh Beckerman
Sportsman's Warehouse Holdings Inc. shares fell 19% to $13.76 Friday after the company's planned acquisition by Great American Outdoors Group was called off following unfavorable feedback from the Federal Trade Commission.
On Thursday, Sportsman's Warehouse said that Great Outdoors, the owner of Cabela's and Bass Pro Shops, agreed to pay Sportsman's Warehouse a $55 million termination fee.
The FTC said Friday that it was pleased the companies called off the merger, as the deal would have "harmed consumers through increased prices, reduced product offerings, and diminished quality and service."
The deal, announced in December 2020, was valued at $18 a share.
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(END) Dow Jones Newswires