Dick’s Sporting Goods is buying struggling footwear chain Foot Locker for about 2.4 billion dollars.

Dick’s Sporting Goods is buying struggling footwear chain Foot Locker for about 2.4 billion dollars. The sports retailer based in Findlay Township expects to run Foot Locker as a standalone unit. Foot Locker offers Dick's a huge real estate footprint with about 24-hundred retail stores in 20 countries. The acquisition would also give Dick’s more bargaining power with national brands. Dick’s anticipates closing on the Foot Locker deal in the second half of the year. The transaction needs approval from Foot Locker shareholders. It's the second buyout of a major footwear company this year. Skechers is being purchased by 3G Capital for more than 9 billion dollars.

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