Dick's Sporting Goods to buy Foot Locker for $2.4 billion

Reuters

Thu, May 15, 2025, 3:08 AM 1 min read

(Reuters) -Dick's Sporting Goods (DKS) has agreed to bargain smaller rival Foot Locker (FL) for $2.4 billion, the companies said connected Thursday.

Shares of Foot Locker (FL) surged 75% to $22.50 premarket aft the announcement, portion Dick's Sporting fell 9%.

The sporting goods retailer has offered $24 per stock of Foot Locker, representing an 86% premium to the stock's past close. Foot Locker has mislaid astir 40% of its worth truthful acold this year.

The woody follows a $9.42 cardinal buyout of Skechers by backstage equity institution 3G past week, arsenic businesses effort to navigate the planetary commercialized uncertainties sparked by the Trump administration.

The Wall Street Journal was the archetypal to study connected the imaginable Foot Locker woody aft markets closed connected Wednesday.

(Reporting by Savyata Mishra successful Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath)