Dick's Sporting Goods closes in on deal to buy rival Foot Locker, WSJ reports (updated)
14/05/2025 22:26
Adds details from report and share movement in paragraphs 2-4 May 14 (Reuters) - Dick's Sporting Goods DKS.N was nearing a deal to buy rival footwear retailer Foot Locker FL.N for about $2.3 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The companies have discussed a deal at $24 per share for Foot Locker, the report said. That would represent an 86.5% premium to the stock's last closing price. Shares of Foot Locker surged 62.32% in extended trading, while Dick's Sporting Goods was down about 5%. The deal could be finalized as soon as Thursday, the report said. The companies did not immediately respond to Reuters' requests for comment. (Reporting by Juveria Tabassum in Bengaluru; Editing by Shilpi Majumdar) ((Juveria.Tabassum@thomsonreuters.com;))
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