Foot Locker shareholders approved the company’s acquisition by Dick’s Sporting Goods at a special meeting held on Aug. 22, 2025. The vote marks a key step toward completing the deal announced in mid-May. Under the terms of the agreement, Foot Locker investors will elect to receive either $24.00 in cash or 0.1168 shares of Dick’s common stock for each share held. The election is not subject to any cap or floor on the total amount of cash or stock issued.
According to preliminary results, approximately 99 percent of votes cast – representing about 70 percent of all outstanding shares – were in favor of the merger. Final results will be filed with the US Securities and Exchange Commission.
“We are pleased with the results from our special meeting earlier today and thank our shareholders for their support,” said Mary Dillon, CEO of Foot Locker. “We are now one step closer to joining forces with Dick’s and even better positioning the business to expand sneaker culture, elevate the omnichannel experience and enhance our position in the industry.”
The transaction is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.
Foot Locker operates around 2,400 stores across 20 countries under multiple banners, including Kids Foot Locker, Champs Sports, WSS and Atmos. The merger adds to Dick’s Sporting Goods’ efforts to strengthen its foothold in the athletic specialty retail segment.
