Dick’s acquisition of Foot Locker moves step closer

One of North America’s largest suppliers of fishing tackle has taken a major step forward in its plans to acquire Foot Locker.

Shareholders of the footwear and apparel retailer has agreed by nearly 99% to accept an offer from Dick’s Sporting Goods to pay either $24 a share in cash or 0.1168 in shares of its common stock for each of Foot Lockett common stock owned.

“We are pleased with the results from our special meeting and thank our shareholders for their support as the company embarks on this exciting new chapter,” said Mary Dillon, Foot Locker CEO.

“We are now one step closer to joining forces with Dick’s and even better positioning the business to expand sneaker culture, elevate the omni-channel experience for our customers and brand partners and enhance our position within the industry.

“We look forward to continuing to work closely with Dick’s to complete this transaction and unlock its significant value creation potential.”

The transaction is expected to close in the second half of 2025.

Foot Locker has approximately 2,400 retail stores in 20 countries across North America, Europe, Asia, Australia and New Zealand.