On May 15, 2025, DICK'S Sporting Goods, Inc. announced that it has entered into a merger agreement with Foot Locker, Inc., where Foot Locker will become a wholly owned subsidiary, with shareholders receiving either $24.00 cash per share or a stock exchange option. The merger is set to be financed with a commitment of up to $2.4 billion in loans and is subject to shareholder approval and regulatory clearances.