Consumer
JD Sports to Buy Hibbett for $1.1 Billion to Fuel US Growth
- UK retailer wants to become dominant force in sportswear
- Hibbett also runs the City Gear chain of sneaker stores
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British sportswear and sneaker retailer JD Sports Fashion Plc agreed to buy Hibbett Inc. for about $1.1 billion to speed up its US expansion.
JD Sports is paying $87.50 per share for Hibbett, compared with the $72.49 closing price on Monday.