The merger between Dick’s Sporting Goods and Foot Locker is moving forward after receiving both shareholder support and regulatory clearance, setting the stage for an expected September 8 closing. Shareholders Overwhelmingly Back the Deal On Friday , Foot Locker shareholders voted in strong favor of the merger.
According to the company, 99% of shareholders approved the deal, marking a critical milestone in the transaction. “We are now one step closer to joining forces with Dick’s and even better positioning the
business to expand sneaker culture, elevate the omnichannel experience for our customers and brand partners, and enhance our position in the industry,” said Foot Locker CEO Mary Dillon in a statement Friday.
The approval ensures Foot Locker will join forces with one of the largest sporting goods retailers in the country, creating an even larger player in the competitive athletic retail landscape.
Regulatory Clearance Removes Final Hurdle On Tuesday , Dick’s Sporting Goods confirmed that regulatory approvals have been secured, further clearing the way for the merger.
The waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act expired without objection Monday night, signaling that the Federal Trade Commission will not challenge the deal on antitrust grounds. This outcome comes despite pushback from lawmakers including U.S. Sen…
