Dick's Sporting Goods Set To Acquire Foot Locker For $2.3 Bln : Report

(RTTNews) - Dick's Sporting Goods Inc. (DKS) is close to finalizing a deal to Acquire Foot Locker Inc. (FL) for about $2.3 billion, according to the Wall Street Journal.

The agreement could be completed as soon as Thursday, unless unexpected issues arise.

The companies have reportedly discussed a purchase price of $24 per share for Foot Locker, representing nearly a 90% premium over its current market value, which has declined significantly this year.

FL closed Wednesday's regular trading at $12.87 down $0.44 or 3.31%. But, in the after-hours trading the stock gained $8.92 or 69.31%.