Dick's Sporting Goods to acquire Foot Locker for $2.4 billion in effort to corner Nike market
1. Dick's plans to acquire Foot Locker for $2.4 billion. 2. Foot Locker's stock is down 41% this year, making it a takeover target. 3. The merger aims to enhance Dick's market edge, especially with Nike. 4. Concerns over anti-competition could impact the merger's approval. 5. Dick's expects earnings accretion and substantial cost synergies post-acquisition.