Dick’s Sporting Goods is set to acquire Foot Locker, with the merger expected to close next week.

The deal is worth about $2.4 billion, according to WPXI and the Pittsburgh Business Times.

Foot Locker shareholders had the option to choose between receiving $24.00 in cash or 0.1168 shares of Dick’s Sporting Goods common stock for each of their shares, according to a news release.

The election deadline for Foot Locker shareholders to choose their preferred form of consideration was August 29, 2025.

Preliminary results show that approximately 92.6% of Foot Locker shareholders elected to receive stock consideration, while 1.2% opted for cash.

Around 6.2% of shareholders did not make a valid election, and these shareholders will receive cash consideration for their shares.

Shares owned by Dick’s Sporting Goods will be automatically cancelled at the effective time of the merger.

The final certified results of the election are not yet available and are expected shortly before the merger’s closing, which is expected to happen on Sept. 8.

The merger between Dick’s Sporting Goods and Foot Locker marks a significant consolidation in the sporting goods retail sector.

Dick’s Sporting Goods was founded in 1948 and is headquartered in Pittsburgh. It operates more than 850 Dick’s Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! stores, websites, Dick’s House of Sport, Golf Galaxy Performance Center and Game Changer.

Foot Locker has about 2,400 retail locations across the world. It operates Foot Locker, Kids Foot Locker, Champs Sports, WSS and more brands.

© 2025 Cox Media Group