DICK'S Sporting Goods and Foot Locker announce the preliminary results of the elections made by Foot Locker shareholders regarding the merger consideration.
Shareholders had the option to receive $24.00 in cash or 0.1168 shares of DICK'S Sporting Goods common stock per share of Foot Locker common stock.
Majority of Foot Locker shareholders elected to receive stock consideration, while a small percentage chose cash consideration or did not make a valid election.
Election Results
92.6% of Foot Locker shareholders opted for stock consideration, 1.2% chose cash consideration, and 6.2% did not make a valid election.
Merger Deadline
Merger expected to close on September 8, 2025, subject to customary closing conditions.
Company Profiles
DICK'S Sporting Goods inspires athletes' dreams, while Foot Locker is a leading footwear retailer with a strong global presence.
- The election results indicate strong shareholder support for the merger, emphasizing confidence in the future combined entity.
- The merger is poised to enhance DICK'S Sporting Goods' position in the market and expand its offerings through Foot Locker's retail network.
The merger between DICK'S Sporting Goods and Foot Locker is progressing smoothly, with shareholders showing enthusiasm for the strategic combination of the two companies.