Sportsman’s Warehouse ends merger with Great Outdoors over FTC clearance concerns By Reuters
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© Reuters. FILE PHOTO: Lina Khan, nominee for Commissioner of the Federal Trade Commission (FTC), testifies during a Senate Committee on Commerce, Science, and Transportation confirmation hearing on Capitol Hill in Washington, DC, U.S. April 21, 2021. Saul Loeb/Poo
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© Reuters. FILE PHOTO: Lina Khan, nominee for Commissioner of the Federal Trade Commission (FTC), testifies during a Senate Committee on Commerce, Science, and Transportation confirmation hearing on Capitol Hill in Washington, DC, U.S. April 21, 2021. Saul Loeb/Poo
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(Reuters) – Outdoor sporting goods retailer Sportsman’s Warehouse (NASDAQ:) 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 (NASDAQ:) 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.
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