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Dick’s Sporting Goods (NYSE:DKS) announced Wednesday that it has voluntarily withdrawn its pre-merger notification and report form related to its planned acquisition of Foot Locker (NYSE:FL), Inc., in order to provide the Federal Trade Commission (FTC) with additional time to review the proposed merger. The company stated it will resubmit the notification on or about Friday, which will begin a new 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
The withdrawal and planned resubmission, made in agreement with Foot Locker, is described as a standard procedure to allow regulators more time to assess certain transactions. Dick’s Sporting Goods said it continues to work constructively with FTC staff on the review process.
The company reiterated that it expects the merger to close in the second half of 2025, subject to regulatory approvals, approval of the merger agreement by Foot Locker shareholders, and the satisfaction or waiver of other customary closing conditions. According to InvestingPro’s Fair Value analysis, Dick’s Sporting Goods is currently trading above its Fair Value, suggesting careful consideration of timing for major corporate actions.
Dick’s Sporting Goods and Foot Locker had previously disclosed the merger agreement on May 15, 2025. The registration statement for the transaction was declared effective on July 10, 2025, and related proxy materials have been filed with the Securities and Exchange Commission.
This information is based on a statement in a press release included in a filing with the SEC.
In other recent news, Dick’s Sporting Goods has extended its partnership with the Women’s National Basketball Association (WNBA) through the 2028 season. This agreement solidifies Dick’s Sporting Goods as the Official Sporting Goods Retailer and Marketing Partner of the WNBA, as well as for the Chicago Sky and Minnesota Lynx franchises. UBS has reiterated its Buy rating on Dick’s Sporting Goods stock, maintaining a price target of $225, citing market share expansion opportunities. The firm notes that Dick’s Sporting Goods holds approximately 5% of the sporting goods market, in contrast to Foot Locker’s 2% share. DA Davidson also maintained a Buy rating with a $230 price target, highlighting Nike (NYSE:NKE)’s strong performance as a positive indicator. Meanwhile, TD Cowen adjusted its price target for Dick’s Sporting Goods to $205, keeping a Hold rating, following a survey showing gains in the footwear market. The survey indicated a 9.8% increase in comparative sales over two years, with a notable rise in average ticket prices and transaction volume.
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