Dick's Sporting Goods confirmed that it will buy Foot Locker for about $2.4 billion.
The proposed deal price of $24 a share, or 0.1168 shares of Dicks, is an 86.5% premium to Foot Locker stock's Wednesday's close of 12.87.
A Dick's-Foot Locker deal was close, the Wall Street Journal reported late Wednesday, citing sources.
Foot Locker stock surged 84% in extended trading to 23.71. Shares were down nearly 41% in 2025 as of May 14.
Dick's Sporting Goods stock dived 10% in premarket action. Shares were off 8.4% in 2025 through Wednesday's close.
Dick's is the nation's largest sports retailing chain. Foot Locker is a mall-based athletic shoe giant. It's a big seller of gear from Nike, Under Armour and more.
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