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Dick's Sporting Goods is acquiring Foot Locker for approximately $2.4 billion, marking the second major footwear company buyout in recent weeks amid concerns over Trump-era tariffs. Dick's plans to operate Foot Locker as a separate entity, leveraging its international presence and brand recognition. This acquisition expands Dick's global reach and strengthens its bargaining power with major athletic brands. Foot Locker shareholders can opt for cash or Dick's stock. The deal is expected to close in the second half of the year, pending shareholder approval. Dick's stock fell following the announcement, while Foot Locker's surged.

Prepared by Christopher Adams and reviewed by editorial team.