Foot Locker shares surge 85% after Dick's Sporting Goods agrees to buy rival for $2.4B
1. Dick’s Sporting Goods to acquire Foot Locker for $2.4 billion. 2. Offer represents an 86% premium to Foot Locker’s last closing price. 3. Foot Locker shares surged 85%, recovering from a 40% decline this year. 4. The acquisition aims to strengthen Dick’s mall presence and international expansion. 5. Market competition and tariffs impact Foot Locker's declining market share.