Foot Locker shareholders approve DICK'S Sporting Goods acquisition

Foot Locker Inc. (NYSE: FL) shareholders voted to approve the company's acquisition by DICK'S Sporting Goods Inc. (NYSE: DKS) at a special meeting held Thursday. Approximately 99% of votes cast were in favor of the merger agreement, representing about 70% of all outstanding shares.

Under the merger agreement announced May 15, 2025, Foot Locker shareholders will choose to receive either $24.00 in cash or 0.1168 shares of DICK'S common stock for each share of Foot Locker common stock owned. The election has no minimum or maximum limits for cash or stock consideration.

"We are pleased with the results from our special meeting earlier today and thank our shareholders for their support as Foot Locker embarks on this exciting new chapter," said Mary Dillon, CEO of Foot Locker.

The transaction is expected to close in the second half of 2025, subject to customary closing conditions including regulatory approvals. Final voting results will be reported in a Form 8-K filing with the U.S. Securities and Exchange Commission after certification by Foot Locker's independent inspector of elections.

Foot Locker operates approximately 2,400 retail stores in 20 countries across North America, Europe, Asia, Australia, and New Zealand, with additional licensed stores in Europe, the Middle East and Asia. The company's portfolio includes Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos brands.

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