Dick’s Sporting Goods Inc. indicated it expects its merger with Foot Locker Inc. to close on September 8 while announcing that the expiration of the Hart-Scott-Rodino waiting period for its proposed acquisition expired on August 25.
In a joint statement, Dick’s Sporting Goods and Foot Locker said that following the expiration of the waiting period under the HSR Act, all required regulatory approvals to complete the merger have been received. As previously disclosed, Foot Locker shareholders approved the merger at a special meeting held on August 22.
The merger is expected to close on September 8, subject to the satisfaction of remaining customary closing conditions.
Dick’s Sporting Goods and Foot Locker also announced that the deadline for Foot Locker shareholders of record to elect the form of consideration that they wish to receive in connection with the Merger is 5:00 pm, ET on Friday, August 29, 2025 (Election Deadline). Participants in the Foot Locker 401(k) Plan and Foot Locker Puerto Rico Savings Plan (Plans) are subject to an earlier election deadline with respect to shares of Foot Locker common stock allocated to such participants under the Plans and should submit their elections for such shares by 5:00 pm, ET on Wednesday, August 27, 2025.
Under the terms of the deal, which was announced in May, Foot Locker shareholders can elect to receive either $24.00 in cash or 0.1168 shares of DKS common stock for each share of FL common stock owned.
Foot Locker shareholders of record wishing to make an election must deliver properly completed election materials to Equiniti Trust Company, LLC by the Election Deadline.
