DICK'S Sporting Goods Acquires Foot Locker in $2.4 Billion Merger

DICK'S Sporting Goods, Inc. has entered into a definitive merger agreement to acquire Foot Locker, Inc. for an equity value of approximately $2.4 billion. Foot Locker's shareholders will have the option to receive either $24.00 in cash or 0.1168 shares of DICK'S common stock for each share of Foot Locker stock.

The acquisition is expected to create a global platform within the sports retail industry and is anticipated to be accretive to DICK'S EPS in the first full fiscal year post-close. The transaction is subject to Foot Locker shareholder approval and other customary closing conditions, with the expected closure in the second half of 2025. The combination aims to leverage the strengths of both organizations to better serve the evolving needs of global sports retail consumers.

DICK'S plans to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands. The proposed acquisition is a strategic move that positions DICK'S as a leading player within the growing sports retail industry.

Source: PR Newswire