British Sportswear Retailer Acquires American Sporting Goods Chain for $1.1 Billion

JD Sports Fashion, a prominent sportswear retailer in Britain, has agreed to acquire Hibbett Sports Inc., an American sporting goods chain for around $1.1 billion. The deal will see JD Sports pay $87.50 per share for Hibbett, a premium of 21% to Monday’s closing price and 29% to their weighted average value over the last 120 trading days. Hibbett’s board of directors has unanimously approved the proposal from the British company, with the transaction expected to close in the second half of 2024, pending approval from Hibbett’s shareholders and regulatory authorities.

Baird and Rothschild & Co. served as financial advisors for JD Sports in the transaction, with Solomon Partners Securities advising Hibbett.

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