Reported about 11 hours ago
Dick's Sporting Goods is set to acquire Foot Locker for $2.4 billion, aiming to enhance Foot Locker's digital presence and expand internationally. The deal is expected to benefit both companies by broadening their customer demographics and improving competition in e-commerce, as Foot Locker has struggled in this area. Foot Locker will maintain its operations as a standalone unit, while Dick's will finance the acquisition through cash and debt.
Source: YAHOO