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Article: Dick's Sporting Goods Agrees to Acquire Chick's Sporting Goods.
- Article from:
- PR Newswire
- Article date:
- November 26, 2007
CopyrightCOPYRIGHT 2007 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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PITTSBURGH, Nov. 26 /PRNewswire-FirstCall/ -- Dick's Sporting Goods, Inc. and Chick's Sporting Goods, a privately held corporation, have entered into a definitive stock purchase agreement whereby Dick's will acquire Chick's Sporting Goods. Under the terms of the agreement, Dick's has agreed to pay approximately $40 million in cash for the outstanding equity of Chick's. Including the assumption of approximately $31 million of indebtedness, the transaction values Chick's at approximately $71 million, and will be financed using Dick's existing credit facility. Chick's shareholders have the opportunity to earn up to $5 million in additional consideration, upon satisfaction ...