Foot Locker surged 85.7% after acquisition by Dick's Sporting Goods for $2.4 billion

From Yahoo Finance: 2025-05-20 12:41:00

Wall Street’s main indices saw a mix on Thursday, with the Nasdaq down by 0.18%. However, the Dow Jones rose by 0.65% and the S&P 500 grew by 0.41%. Ten companies surged due to strong earnings and mergers. Foot Locker, Inc. jumped 85.7% after news of its acquisition by Dick’s Sporting Goods for $2.4 billion.

Foot Locker, Inc. announced its merger with Dick’s, with shareholders having the option to convert shares to Dick’s common stock. The deal is expected to close in the second half of 2025, pending regulatory and shareholder approval. Preliminary results showed a net loss of $363 million for Foot Locker in the first quarter.

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Read more at Yahoo Finance: Why Foot Locker, Inc. (FL) Surged Last Week