Overview

• Dick’s Sporting Goods will acquire Foot Locker for $2.4 billion, offering shareholders $24 per share in cash or 0.1168 shares of Dick’s stock.
• Foot Locker will operate as a standalone unit under Dick’s, retaining its existing brands including Champs Sports, Kids Foot Locker, and atmos.
• The acquisition expands Dick’s international presence through Foot Locker’s 2,400 stores across 20 countries, marking its first global footprint.
• The deal follows a wave of consolidation in the footwear industry, including Skechers’ recent $9 billion go-private transaction.
• Foot Locker’s stock surged over 80%, while Dick’s shares fell approximately 10%, reflecting divergent investor sentiment regarding the merger.