Dick's Sporting Goods closes in on deal to buy rival Foot Locker, WSJ reports

Reuters

Wed, May 14, 2025, 2:30 PM 1 min read

(Reuters) - Dick's Sporting Goods was nearing a woody to bargain rival footwear retailer Foot Locker for astir $2.3 billion, the Wall Street Journal reported connected Wednesday, citing radical acquainted with the matter.

The companies person discussed a woody astatine $24 per stock for Foot Locker, the study said. That would correspond an 86.5% premium to the stock's past closing price.

Shares of Foot Locker surged 62.32% successful extended trading, portion Dick's Sporting Goods was down astir 5%.

The woody could beryllium finalized arsenic soon arsenic Thursday, the study said.

The companies did not instantly respond to Reuters' requests for comment.

(Reporting by Juveria Tabassum successful Bengaluru; Editing by Shilpi Majumdar)