Shareholders for Foot Locker , Inc. voted to approve its previously announced acquisition by Dick’s Sporting Goods, Inc. at the company’s special meeting of shareholders held on Friday.

Under the terms of the merger agreement announced on May 15, Foot Locker shareholders will elect to receive either $24.00 in cash or 0.1168 shares of Dick’s common stock for each share of Foot Locker common stock owned. The election is not subject to a minimum or maximum amount of cash or stock consideration.

Based on a preliminary vote count from Friday’s special meeting of shareholders, approximately 99 percent of votes cast were in favor of the merger agreement, representing approximately 70 percent of all outstanding shares.

The company noted that the final voting results of the special meeting

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