DICK'S Sporting Goods to Acquire Foot Locker

DICK'S Sporting Goods entered into a definitive merger agreement to acquire Foot Locker in a deal valued at about $2.4 billion in equity value (about $2.5 billion enterprise value). Foot Locker shareholders can elect $24.00 in cash or 0.1168 shares of DICK'S common stock per Foot Locker share; the transaction is subject to shareholder approval and customary regulatory closing conditions and was expected to close in the second half of 2025.