JD Sports Fashion Acquires American Sporting Goods Chain Hibbett Sports Inc. for $1.1 Billion in Cash
JD Sports Fashion, a major sportswear retailer in Britain, has agreed to acquire the American sporting goods chain Hibbett Sports Inc. 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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