Foot Locker shareholders can choose to get either $24 in cash or 0.1168 shares of Dick's Sporting Goods common stock for every share of Foot Locker common stock. Dick's will continue to operate Foot Locker as a standalone business and also maintain Foot Locker brands.

Foot Locker owns Kids Foot Locker, Champs Sports, WSS, and atmos, and has 2,400 stores in 20 countries, including North America, Europe, and Asia.

As President Trump’s Middle East trip continues, investors are refocusing on the basics with Walmart earnings, producer inflation, remarks from Federal Reserve chairman Jerome Powell and a blockbuster retail merger.