Foot Locker’s stock jumped 85% on Thursday after it was revealed that Dick’s Sporting Goods had agreed to purchase the shoe retailer for approximately $2.4 billion. This move is a significant development, as it suggests that Dick’s is willing to invest heavily in acquiring Foot Locker and potentially turning its business around. However, Dick’s own stock has fallen 14% amid concerns that this merger may be more challenging than expected.
Source: https://www.barrons.com/articles/foot-locker-stock-price-dicks-deal-858885b1