Dick’s Sporting Goods In Advanced Talks To Acquire Foot Locker For $24 Per Share

Dick’s Sporting Goods is in advanced talks to acquire Foot Locker at $24 per share—an ~90% premium over Foot Locker’s Wednesday close of $12.87. The all-cash deal could finalize as early as Thursday, barring any last-minute snags, and would mark the largest acquisition in Dick’s history. Foot Locker shares surged over 60% in after-hours trading following reports of the deal. The retailer, which owns Champs Sports and operates 2,400+ stores across 26 countries, has faced mounting challenges in 2024 amid Trump’s tariff announcements, shifting Nike pricing, and weak sales guidance. CEO Mary Dillon, who took over in 2022 from Ulta Beauty, has pushed for a digital revamp and renewed brand partnerships with Adidas and others. Meanwhile, Dick’s, led by CEO Lauren Hobart, is doubling down on experience-driven megastores and expanding its reach beyond the U.S.

ACQUIRER: Dick’s Sporting Goods TARGET: Foot Locker DEAL SIZE: ~$24/share (~90% premium) SECTOR: Retail / Apparel / Consumer Goods STATUS: Advanced Talks (Not Finalized)

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