Recently, the Hart-Scott-Rodino Antitrust Improvement Act of 1976 expired without the government objecting. Under the terms of the agreement, Sports Authority stockholders will receive 0.37% of a share of Gart common stock for each share of Sports Authority common stock they own.
Shareholders of both companies still must approve the merger, which is expected to close in the third quarter.
Gart operates 180 stores in 25 states under the names Gart Sports, Sportmart and Oshman's.
The Sports Authority operates 205 stores in 33 states.
When the merger takes place, the companies will have 385 stores in 45 states. They plan to keep the Sports Authority name, but the headquarters will remain in the Denver area.
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