DICK'S Sporting Goods reports Foot Locker merger election results

DICK'S Sporting Goods Inc. (NYSE: DKS) and Foot Locker Inc. (NYSE: FL) announced preliminary results of shareholder elections regarding merger consideration forms, according to a press release statement.

Foot Locker shareholders had until August 29, 2025, to elect their preferred form of consideration for the previously announced acquisition. Shareholders could choose between $24.00 in cash or 0.1168 shares of DICK'S Sporting Goods common stock per Foot Locker share.

The preliminary results showed that shareholders representing approximately 92.6% of outstanding Foot Locker shares elected to receive stock consideration, which includes 31.6% that made elections through guaranteed delivery procedures. Shareholders holding approximately 1.2% of outstanding shares chose cash consideration.

Approximately 6.2% of shareholders did not make valid elections by the deadline, including 4.5% owned by DICK'S Sporting Goods. Non-electing shareholders will receive cash consideration, except for shares owned by DICK'S Sporting Goods, which will be cancelled for no consideration at closing.

The merger is expected to close on September 8, 2025, subject to remaining customary closing conditions. Final certified results are expected shortly before the closing.

DICK'S Sporting Goods operates more than 850 stores across multiple retail formats and is headquartered in Pittsburgh. Foot Locker operates approximately 2,400 retail stores across 20 countries and specializes in footwear and apparel retail.

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