JD Sports Fashion, one of Britain’s largest sportswear retailers, has agreed to purchase the American sporting goods chain Hibbett Sports Inc. for approximately $1.1 billion. The acquisition will see JD Sports pay $87.50 per share for Hibbett, representing a premium of 21% to the closing price of securities on Monday and 29% to their weighted average value over the last 120 trading days. Hibbett’s board of directors unanimously approved the proposal from the British company, and the transaction is expected to close in the second half of 2024, subject to approval from Hibbett’s shareholders and regulatory authorities.
Financial advisors Baird and Rothschild & Co. worked with JD Sports on this transaction, while Solomon Partners Securities advised Hibbett. The deal marks a significant move in the sports retail industry, combining the strengths of both companies to create a stronger global presence.
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