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Foot Locker soars after massive $2.4 billion takeover bid from Dick’s Sporting Goods

The struggling sneaker chain (finally) got a lifeline — but the deal could face hurdles.

5/15/25 8:43AM

Foot Locker  shares sprinted over 80% in early trading after Dick’s Sporting Goods announced a massive $2.4 billion takeover offer. Dick’s said it would pay $24 per share in cash for the sneaker retailer (nearly a 90% premium to recent trading levels) even as Foot Locker has shuttered hundreds of stores amid cooling demand. Dick’s shares fell about 11% on the news.

The footwear industry has been hit hard by tariff uncertainty and shifting shopping habits, especially for mall-based retailers like Foot Locker. The Y2K-era brand has been shuttering stores and struggling to revive its image, even after a splashy rebrand aimed at Gen Z shoppers. Foot Locker missed sales estimates in the latest quarter as Nike, its biggest brand partner, pulled back on wholesale deals.

Together, Dick’s and Foot Locker would operate more than 3,200 stores and bring in over $10 billion in annual revenue, including more than $5 billion from footwear alone. But given Dick’s dominance in the category, analysts warn the move could attract regulatory scrutiny.

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Opponents of the Netflix-Warner Bros. deal take fight to Europe

Europe is the latest frontier of the ongoing tug-of-war for the “Friends” back catalog.

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Ford reportedly in talks to buy hybrid vehicle batteries from Chinese auto giant BYD

Detroit’s Ford and China’s BYD are said to be in ongoing talks to partner on an agreement that would see Ford buy hybrid vehicle batteries from BYD, according to reporting from The Wall Street Journal.

The report comes just days after President Trump toured a Ford factory in Michigan and implied openness to Chinese automakers coming to the US.

“If they want to come in and build a plant... that’s great, I love that,” Trump said on January 13. “Let China come in, let Japan come in.”

Last week, China’s Geely Automobile Holdings said it expects to make an announcement about expanding into the US within the next three years. Chinese carmakers currently face huge tariffs and software restrictions, effectively barring their vehicles from the US.

Ford has doubled down on hybrid vehicles amid high EV costs and the end of federal EV tax credits. The automaker is currently building a battery plant in Michigan where it plans to use tech from Chinese battery maker CATL.

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“If they want to come in and build a plant... that’s great, I love that,” Trump said on January 13. “Let China come in, let Japan come in.”

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Lawsuit alleges Lilly, Novo locked up telehealth to kill compounded GLP-1s

Novo Nordisk CEO Mike Doustdar estimated that around 1.5 million US patients are using compounded versions of the company’s drugs.

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Big Pharma enters 2026 with an appetite for deals

At the JPMorgan Healthcare Conference, biotechs and Big Pharma signaled they’re primed for M&A this year, after a big year for deals in 2025.

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