DICK'S Sporting Goods and Foot Locker Announce Merger Consideration Election Results

DICK'S Sporting Goods and Foot Locker announced preliminary results of the election for merger consideration. Foot Locker shareholders had to choose between receiving cash or DICK'S Sporting Goods shares for their stock. The deadline for the election was August 29, 2025.

DICK'S Sporting Goods, Inc. (NYSE: DKS) and Foot Locker, Inc. (NYSE: FL) have announced the preliminary results of the shareholder election regarding the merger consideration. Foot Locker shareholders were given the option to receive either $24.00 in cash or 0.1168 shares of DICK'S Sporting Goods common stock for each share of Foot Locker common stock they held. The election deadline was August 29, 2025 [1].

Based on the preliminary results, approximately 92.6% of Foot Locker shareholders of record elected to receive the stock consideration, which includes 31.6% of the outstanding shares of Foot Locker common stock that made elections pursuant to guaranteed delivery procedures. Around 1.2% of Foot Locker shareholders of record elected to receive the cash consideration, and approximately 6.2% did not make a valid election or did not deliver a valid election form prior to the deadline. The final certified results are expected to be available shortly before the merger's closing date, which is scheduled for September 8, 2025, subject to customary closing conditions [1].

The merger is expected to create a combined company that will leverage the strengths of both DICK'S Sporting Goods and Foot Locker, enhancing their market presence and operational efficiency. DICK'S Sporting Goods, a leading omnichannel retailer, serves athletes and outdoor enthusiasts in over 850 stores, while Foot Locker, a leading footwear and apparel retailer, has a strong history of sneaker authority and a global presence. The combined company aims to drive growth and innovation in the sporting goods industry [1].

Investors and financial professionals should closely monitor the final election results and the overall progress of the merger to assess its impact on the combined company's financial performance and strategic positioning.

References:
[1] https://www.morningstar.com/news/pr-newswire/20250902ne62904/dicks-sporting-goods-and-foot-locker-announce-preliminary-results-of-election-for-merger-consideration