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 is buying Foot Locker for $2.4 billion, the retailers confirmed yesterday. It's the biggest acquisition ever for Dick's—and the deal teams

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.