Foot Locker’s beaten-down stock jumps nearly 70% on report of Dick’s acquisition

Shares of Foot Locker Inc. rocketed 69.3% higher after hours on Wednesday after the Wall Street Journal

reported that Dick’s Sporting Goods Inc. was close to a deal to buy the struggling sneaker chain.

The two sneaker and athletic-gear retailers have reportedly been talking over a deal under which Foot Locker FL would be sold at $24 a share. That deal could be announced as soon as Thursday, the Journal said.