Results for: JD Sports Fashion

Hibbett Sporting Goods (HIBB) shares surged after JD Sports Fashion (JDSPY) proposed acquiring the company for $1.1 billion. The deal, unanimously approved by Hibbett’s board, involves buying all outstanding shares for $87.50 per share, representing a 21% premium. Hibbett will maintain its Birmingham headquarters and continue operations under the leadership of President and CEO Mike Longo. The acquisition enhances JD Sports’ global expansion and U.S. presence. Hibbett operates 1,169 stores across 36 states.

JD Sports Fashion, the UK’s largest sportswear retailer, has announced its plans to acquire Hibbett, an American athletic fashion retailer, for approximately $1.08 billion. This move aims to broaden JD Sports’ presence throughout the southeastern United States. The acquisition will significantly boost JD Sports’ North American revenues and increase the region’s share of total sales from 32% to 40%. The takeover is expected to improve the British company’s earnings and generate cost savings of at least $25 million in the first full year following the purchase.