Dick’s Sporting Goods closes in on deal to buy – Business News
Dick’s Sporting Goods was nearing a deal to buy rival footwear retailer Foot Locker for about $2.3 billion, the Wall Street Journal reported Wednesday, citing people acquainted with the matter.
The corporations have mentioned a deal at $24 per share for Foot Locker, the report mentioned. That would characterize an 86.5% premium to the stock’s final closing price.
Dick’s Sporting Goods was nearing a deal to buy rival footwear retailer Foot Locker for about $2.3 billion. Getty Images
Shares of Foot Locker surged 62% in prolonged trading, whereas Dick’s Sporting Goods was down about 5%.
The deal could possibly be finalized as quickly as Thursday, the report mentioned.
Shares of Foot Locker surged 62% in prolonged trading, whereas Dick’s Sporting Goods was down about 5%. Getty Images
The deal could possibly be finalized as quickly as Thursday, the report mentioned. Jeffrey Greenberg/UCG/Universal Images Group by way of Getty Images
The corporations didn’t instantly reply to Reuters’ requests for remark.
