Dick’s said it plans to maintain the Foot Locker brand and operate the company as a stand-alone business unit within its portfolio.

Foot Locker owns Kids Foot Locker, Champs Sports, WSS, and atmos, and has 2,400 stores in 20 countries, including North America, Europe, and Asia.

Foot Locker shareholders can choose to get either $24 in cash or 0.1168 shares of Dick's Sporting Goods common stock for every share of Foot Locker common stock. Dick's will continue to operate Foot Locker as a standalone business and also maintain Foot Locker brands.