Market Chatter: Dick's Sporting Goods in Advanced Talks to Acquire Foot Locker for $2.3 Billion

MT Newswires Live

05-15

Dick's Sporting Goods (DKS) is in advanced talks to acquire Foot Locker (FL) in a deal valued at about $2.3 billion, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

The parties have discussed a purchase price of $24 per share for Foot Locker, and a deal could be finalized as soon as Thursday, barring any last-minute issues, the report added.

Dick's Sporting Goods and Foot Locker didn't immediately respond to a request for comment from MT Newswires.

Foot Locker shares surged more than 65% in recent after-hours activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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