Bass Pro reportedly explores bid for Cabela's

Springfield outdoor retailer Bass Pro Shops is reportedly exploring an offer for rival Cabela's Inc., people familiar with the matter told Reuters.

The sources said Bass Pro is working with an investment bank on the potential offer.

Last September, the Wall Street Journal reported Bass Pro hired New York merger-and-acquisition advisory firm Moelis & Co. (NYSE: MC) to explore financing options.

Last month, activist investor Elliott Management disclosed an 11 percent stake in Cabela's and called for the company to explore strategic alternatives, including a sale to a private equity firm.

Bass Pro officials declined to comment on the story, and Cabela's did not respond to an interview request.

Read more from Reuters.