Hibbett to be acquired by JD Sports affiliate for $87.50/share in all-cash deal

HIBBETT INC

Transaction consideration of $87.50 per share in cash to Hibbett stockholders.
Hibbett Board unanimously approved and recommends adoption by stockholders.
Merger expected to close by January 23, 2025, subject to regulatory and stockholder approvals.
Termination fees: $35.2M payable by Hibbett for superior proposal, $53.5M payable by Parent for antitrust failure.
Hibbett to suspend dividends and share repurchases pending closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HIBBETT INC entered into Agreement and Plan of Merger with Genesis Holdings, Inc., Steps Merger Sub, Inc., and JD Sports Fashion plc valued at $87.50 in cash (effective 2024-04-23).

Action: entry
Agreement: merger
Counterparty: Genesis Holdings, Inc., Steps Merger Sub, Inc., and JD Sports Fashion plc
Value: $87.50 in cash
Effective: 2024-04-23

Exact text from the filing

On April 23, 2024, Hibbett, Inc., a Delaware corporation (the “ Company ” or “ Hibbett ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among the Company, Genesis Holdings, Inc., an Indiana corporation (“ Parent ”), Steps Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Parent (“ Merger Sub ”)

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Source: SEC EDGAR

accession 0001140361-24-021927

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