DICK’S Sporting Goods, Inc. (DKS) entered a merger agreement on May 15, 2025, to acquire Foot Locker, Inc. (FL) in a deal valued at $2.5 billion.
Under the terms of the agreement, Foot Locker shareholders will elect to receive either $24 in cash or 0.1168 shares of Dick’s common stock for each share of Foot Locker common stock. The election is not subject to a minimum or maximum amount of cash or stock consideration.