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

As President Trump’s Middle East trip continues, investors are refocusing on the basics with Walmart earnings, producer inflation, remarks from Federal Reserve chairman Jerome Powell and a blockbuster retail merger.

According to the release, Dick’s will acquire its competitor for $2.4 billion, as the retailers navigate choppy demand and global trade uncertainties. Dick’s, which has one location in New Springville, said it expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands.