Dick's Sporting Goods and Foot Locker have announced the preliminary results of the elections made by Foot Locker shareholders regarding the form of consideration they wish to receive in exchange for their shares of Foot Locker common stock in connection with the previously announced acquisition of Foot Locker by Dick's Sporting Goods.
Based on available information as of the election deadline, the preliminary results of the election were as follows:
- Approximately 92.6% of the outstanding shares of Foot Locker common stock elected to receive the stock consideration.
- Approximately 1.2% of the outstanding shares of Foot Locker common stock elected to receive the cash consideration.
- Approximately 6.2% of the outstanding shares of Foot Locker common stock did not make a valid election or did not deliver a valid election form prior to the election deadline.
The merger is expected to close on September 8, 2025, subject to the satisfaction of remaining customary closing conditions.
Dick's Sporting Goods, founded in 1948 and headquartered in Pittsburgh, serves athletes and outdoor enthusiasts in more than 850 stores, online, and through its mobile app. It also owns and operates Dick's House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile platform for live streaming, scheduling, communications, and scorekeeping.
Foot Locker, Inc. is a leading footwear and apparel retailer with approximately 2,400 retail stores in 20 countries across North America, Europe, Asia, Australia, and New Zealand. It also has a licensed store presence in Europe, the Middle East, and Asia and a strong history of sneaker authority through its portfolio of brands.
The final certified results of the election are not expected to be available until shortly before the closing of the merger. Today the company's shares have moved -2.41% to a price of $24.105. Check out the company's full 8-K submission here.
