Thursday, December 05, 2019
Major Republican donor Paul Singer has very few fans in this town of 6,300 people, where 80 percent of voters backed Donald Trump in 2016. "I hope Paul Singer is proud of what he did," Tim O'Connell, a local lumberyard owner, told Tucker Carlson Tonight. "I don't know how he sleeps at night." O'Connell and many other residents are still suffering from the loss of sporting goods retailer Cabela's, which kept its headquarters in Sidney until it merged with Bass Pro Shops in 2017.
The sale of Cabela's to Bass Pro Shops was announced in 2016, a year after Singer's Elliott Management disclosed an 11 percent stake, and said Cabela's should explore a possible sale. Cabala's was profitable at the time, but in mid-November 2015, Elliott Management "stated that they believed the Company should be sold through a public auction process" and that if they didn't engage in the sales process, the hedge fund "was prepared to take further steps with respect to the Company," according to securities filings.
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