Dick's Sporting Goods and Foot Locker have announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, signaling progress in the acquisition of Foot Locker by Dick's Sporting Goods. All required regulatory approvals to complete the merger have been received, and the merger is expected to close on September 8, 2025, subject to the satisfaction of remaining customary closing conditions.
Furthermore, the deadline for Foot Locker shareholders of record to elect the form of consideration they wish to receive in connection with the merger is set for 5:00 p.m., Eastern Time on August 29, 2025. As per the election materials and the parties' proxy statement/prospectus dated July 11, 2025, each Foot Locker shareholder may elect to receive either $24.00 in cash or 0.1168 shares of Dick's Sporting Goods common stock for each share of Foot Locker common stock held prior to the closing of the merger.
Foot Locker shareholders who fail to make a proper election by the deadline will receive cash consideration for their shares of Foot Locker common stock. Additionally, shareholders who would have received a fractional share of Dick's Sporting Goods common stock upon an election for stock consideration will receive cash in lieu of such fractional share.
The merger consideration and the election process are detailed in the proxy statement/prospectus, and Foot Locker shareholders are encouraged to read it carefully. The proxy statement/prospectus can be obtained free of charge by following the provided instructions.
As of now, the merger is progressing as planned, and the companies are moving forward with the necessary steps to finalize the acquisition. Today the company's shares have moved -0.82% to a price of $225.96. If you want to know more, read the company's complete 8-K report here.
