Dick’s, the retail leader in sporting goods, will acquire Foot Locker, the leading specialty footwear retailer, for $2.4 billion. Both depend heavily on sneaker sales.

DICK'S Sporting Goods, Inc.'s $2.4B Foot Locker, Inc. acquisition raises concerns over strategy shifts. Click for my look at the deal and its impact on FL and DKS.

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.