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Dick’s Sporting Goods Nears $2.3 Billion Acquisition of Foot Locker

The reported deal, valuing Foot Locker at $24 per share, would reshape the athletic retail landscape and expand Dick’s global footprint.

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A Foot Locker store in New York.
An employee wheels merchandise through a Dick's Sporting Goods store in Collegeville, Pennsylvania U.S. November 20, 2020. REUTERS/Mark Makela/File photo
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Overview

  • Dick’s Sporting Goods is reportedly finalizing a $2.3 billion acquisition of Foot Locker, with a deal anticipated as soon as May 15, 2025.
  • The proposed agreement values Foot Locker at $24 per share, representing a nearly 90% premium over its most recent closing price of $12.87.
  • Foot Locker shares surged over 60% in after-hours trading, while Dick’s stock declined about 5% following news of the potential acquisition.
  • If completed, the deal would significantly enhance Dick’s bargaining power with major brands like Nike and Adidas and expand its international presence.
  • This move follows broader consolidation trends in the footwear sector, including Skechers’ recent $9.4 billion go-private deal with 3G Capital.