Foot Locker Stock Soars as Dick’s Sporting Goods Announces $2.4B Acquisition

In a bold move to expand its market presence, Dick’s Sporting Goods is acquiring Foot Locker for $24 per share in a deal valued at approximately $2.4 billion. The announcement sent Foot Locker’s stock up nearly 80%, though Dick’s saw a 15% dip due to investor concerns about integrating a struggling retail brand. The deal is expected to close in the second half of 2025 and aims to generate $100–$125 million in cost synergies.