May 15 (Reuters) - Dick's Sporting Goods has

agreed to buy smaller rival Foot Locker ( FL ) for $2.4 billion,

the companies said on Thursday.

Shares of Foot Locker ( FL ) surged 75% to $22.50 premarket after

the announcement, while Dick's Sporting fell 9%.

The sporting goods retailer has offered $24 per share of

Foot Locker ( FL ), representing an 86% premium to the stock's last

close. Foot Locker ( FL ) has lost about 40% of its value so far this

year.

The deal follows a $9.42 billion buyout of Skechers by

private equity company 3G last week, as businesses attempt to

navigate the global trade uncertainties sparked by the Trump

administration.

The Wall Street Journal was the first to report on the

potential Foot Locker ( FL ) deal after markets closed on Wednesday.