Foot Locker surges 82% on $2.4 billion acquisition deal 📈Dick's Sporting Goods loses 15%

Dick’s Sporting Goods confirmed today that the company is acquiring Foot Locker Inc. for $2.4 billion, valuing the company at $24 a share. In reaction to that report, shares rise 82%. On the other hand, shares of Dick's slump almost 15% as investors see the acquisition as risky for the company.

Source: xStation5

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