{"id":16628,"date":"2025-09-03T08:35:48","date_gmt":"2025-09-03T14:35:48","guid":{"rendered":"https:\/\/footwearmagazine.com\/?p=16628"},"modified":"2025-09-03T08:35:48","modified_gmt":"2025-09-03T14:35:48","slug":"dicks-foot-locker-merger-clearance","status":"publish","type":"post","link":"https:\/\/footwearmagazine.com\/?p=16628","title":{"rendered":"DICK\u2019S Sporting Goods, Foot Locker Gain Final Regulatory Clearance for $24 Per Share Deal"},"content":{"rendered":"<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><a class=\"break-word hover:text-super hover:decoration-super underline decoration-from-font underline-offset-1 transition-all duration-300\" href=\"https:\/\/www.dickssportinggoods.com\/\" target=\"_blank\" rel=\"nofollow noopener\">DICK&#8217;S Sporting Goods<\/a>, a leading omni-channel sporting goods retailer in the U.S., and&nbsp;<a class=\"break-word hover:text-super hover:decoration-super underline decoration-from-font underline-offset-1 transition-all duration-300\" href=\"https:\/\/www.footlocker-inc.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Foot Locker<\/a> have announced another major milestone in their planned merger: the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the \u201cHSR Act\u201d), at 11:59 p.m. Eastern Time on August 25, 2025.<\/p>\n<h3 class=\"mb-2 mt-4 font-display font-semimedium text-base first:mt-0\">Regulatory Approvals Cleared: Green Light for Merger<\/h3>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\">With the HSR Act waiting period now expired, all required regulatory approvals necessary to complete the&nbsp;<a class=\"break-word hover:text-super hover:decoration-super underline decoration-from-font underline-offset-1 transition-all duration-300\" href=\"https:\/\/www.prnewswire.com\/news-releases\/dicks-sporting-goods-and-foot-locker-announce-expiration-of-hsr-waiting-period-and-election-deadline-for-foot-locker-shareholders-to-elect-merger-consideration-302538136.html#\" target=\"_blank\" rel=\"nofollow noopener\">acquisition of Foot Locker by DICK\u2019S Sporting Goods<\/a>&nbsp;have been received. This follows&nbsp;Foot Locker shareholders\u2019 approval of the merger at a special meeting held on August 22, 2025. The Merger is now expected to officially close on September 8, 2025, subject only to the satisfaction of remaining customary closing conditions.<\/p>\n<h3 class=\"mb-2 mt-4 font-display font-semimedium text-base first:mt-0\">Election Deadlines: Action Required for Foot Locker Shareholders<\/h3>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><a href=\"https:\/\/www.dickssportinggoods.com\/\">DICK\u2019S Sporting Goods<\/a> and Foot Locker also announced that the deadline for&nbsp;Foot Locker shareholders of record&nbsp;to elect the form of consideration (cash or stock) in connection with the Merger is&nbsp;<strong>5:00 p.m. ET on August 29, 2025<\/strong>&nbsp;(the \u201cElection Deadline\u201d). Participants in the Foot Locker 401(k) Plan and Foot Locker Puerto Rico Savings Plan must submit their elections earlier, by&nbsp;<strong>5:00 p.m. ET on August 27, 2025<\/strong>.<\/p>\n<ul class=\"marker:text-quiet list-disc\">\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&#038;>p]:pt-0 [&#038;>p]:mb-2 [&#038;>p]:my-0&#8243;>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><strong>Election Options:<\/strong><br \/>\nFor each share of Foot Locker common stock, holders can elect to receive either (i) $24.00 in cash (\u201ccash consideration\u201d) or (ii) 0.1168 shares of DICK\u2019S Sporting Goods common stock (\u201cstock consideration\u201d).<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&#038;>p]:pt-0 [&#038;>p]:mb-2 [&#038;>p]:my-0&#8243;>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><strong>No Election\/Plan Participants:<\/strong><br \/>\nShareholders who fail to submit a valid election by the deadline will automatically receive the cash consideration. Participants eligible for fractional DICK\u2019S shares will receive cash instead of unfractionalized remainders.<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&#038;>p]:pt-0 [&#038;>p]:mb-2 [&#038;>p]:my-0&#8243;>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><strong>How to Elect:<\/strong><br \/>\nShareholders must deliver completed election materials to Equiniti Trust Company, LLC by the Election Deadline. Questions should be directed to&nbsp;<a class=\"break-word hover:text-super hover:decoration-super underline decoration-from-font underline-offset-1 transition-all duration-300\" href=\"https:\/\/www.dfking.com\/\" target=\"_blank\" rel=\"nofollow noopener\">D.F. King &amp; Co.<\/a>, the information agent for the election, at (888) 541-9895 or via their bank or broker.<\/p>\n<\/li>\n<\/ul>\n<h3 class=\"mb-2 mt-4 font-display font-semimedium text-base first:mt-0\">Where to Find More Details<\/h3>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\">For a thorough explanation of the merger, the election process, and potential outcomes, shareholders are strongly encouraged to carefully review the full&nbsp;proxy statement\/prospectus, dated July 11, 2025. Copies of the proxy statement\/prospectus, as well as further instructions, deadlines, and contacts, have been mailed to Foot Locker shareholders and are available at no charge as directed in the election materials.<\/p>\n<h3 class=\"mb-2 mt-4 font-display font-semimedium text-base first:mt-0\">Summary<\/h3>\n<ul class=\"marker:text-quiet list-disc\">\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&#038;>p]:pt-0 [&#038;>p]:mb-2 [&#038;>p]:my-0&#8243;>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><strong>HSR waiting period ended August 25, 2025\u2014regulatory hurdles cleared, deal moves forward.<\/strong><\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&#038;>p]:pt-0 [&#038;>p]:mb-2 [&#038;>p]:my-0&#8243;>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><strong>Shareholder election deadline:<\/strong>&nbsp;August 29, 2025 (August 27 for 401(k) plan participants).<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&#038;>p]:pt-0 [&#038;>p]:mb-2 [&#038;>p]:my-0&#8243;>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><strong>Merger closing expected:<\/strong>&nbsp;September 8, 2025 (pending final closing conditions).<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&#038;>p]:pt-0 [&#038;>p]:mb-2 [&#038;>p]:my-0&#8243;>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\"><strong>For more:<\/strong>&nbsp;See the&nbsp;<a class=\"break-word hover:text-super hover:decoration-super underline decoration-from-font underline-offset-1 transition-all duration-300\" href=\"https:\/\/www.prnewswire.com\/news-releases\/dicks-sporting-goods-and-foot-locker-announce-expiration-of-hsr-waiting-period-and-election-deadline-for-foot-locker-shareholders-to-elect-merger-consideration-302538136.html#\" target=\"_blank\" rel=\"nofollow noopener\">official press release<\/a>&nbsp;and&nbsp;Foot Locker investor updates.<\/p>\n<\/li>\n<\/ul>\n<p class=\"my-2 [&#038;+p]:mt-4 [&#038;_strong:has(+br)]:inline-block [&#038;_strong:has(+br)]:pb-2\">All transaction, process, contact, and document resources are now accurately hyperlinked for factual reference and actionable next steps.<\/p>\n","protected":false},"excerpt":{"rendered":"DICK&#8217;S Sporting Goods, a leading omni-channel sporting goods retailer in the U.S., and&nbsp;Foot Locker have announced another major&hellip;","protected":false},"author":219894229,"featured_media":16629,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","pad_hide_post_author":"","csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1408,1364,1,1691,1460,1540,1450,1482],"tags":[1822,1715,4433],"class_list":{"0":"post-16628","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-fashion","9":"category-uncategorized","10":"category-insights","11":"category-lifestyle","12":"category-news","13":"category-retail","14":"category-shoes","15":"tag-dicks-sporting-goods","16":"tag-foot-locker","17":"tag-mer","18":"cs-entry","19":"cs-video-wrap"},"yoast_head":"<!-- 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