If you’re not an outdoorsy type, it’s understandable that you might think Cabela’s and Bass Pro Shops are the same store. They’re both big-box stores that are almost more of a tourist destination than a place to shop. Maybe you won’t have to stop and figure out what the difference is: the privately held Bass Pro Shops is considering taking over its publicly traded rival.

Unidentified sources whispered to Reuters about the acquisition, presumably from behind hunting blinds. Recently, Elliott Management, an “activist investor,” or an investor known for making large investments in companies and then using that stake to make changes in the business, purchased 11% of Cabela’s stock.

Elliott had suggested selling the company to a private equity firm, but selling to a rival is another potentially profitable idea for investors. What about fans of the stores, though? It’s so early in this process that word isn’t even out about whether a merger would mean closing stores or divesting some stores that are too close together to a competitor like Gander Mountain.

Exclusive: Bass Pro Shops explores bid for Cabela’s – sources [Reuters]

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