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Article: Dick's Sporting Goods, Inc. Agrees to Acquire Galyan's Trading Company, Inc.
- Article from:
- PR Newswire
- Article date:
- June 21, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dick's Sporting Goods, Inc. announced today that it and Galyan's Trading Company, Inc. have entered into a definitive agreement and plan of merger for Dick's to acquire all of the issued and outstanding stock of Galyan's. Under the terms of the agreement, Galyan's shareholders would receive $16.75 per share in cash. The acquisition is structured as a cash tender offer for all of the issued and outstanding shares of Galyan's.
Dick's offer represents a premium of 53% over Galyan's closing stock price as of June 18, 2004. Based on approximately 18.2 million outstanding Galyan's shares and the assumption of approximately $57 million in net debt, the transaction ...