Finish Line (FINL) Stock: Soaring On Acquisition News

Finish Line Inc FINL Stock NewsFinish Line Inc (NASDAQ: FINL) is having an overwhelmingly strong start to the trading session in the pre-market hours this morning, and for good reason. The company announced acquisition news, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about the acquisition news, what we’re seeing from the stock, and what we’ll be watching for with regard to FINL ahead.

FINL Announces Acquisition News

As mentioned above, Finish Line is having an incredibly strong start to the trading session this morning after the company announced acquisition news. In a press release issued early this morning, the company announced that it has entered into a definitive merger agreement with JD Sports Fashion Plc. Under the terms of the agreement, JD has agreed to acquire FINL at a price of $13.50 per share in an all-cash transaction. This brings the total acquisition value to approximately $558 million. In a statement, Sam Sato, CEO at FINL, had the following to offer:




Finish Line has long admired JD and their commitment to serve customers with premium brands through a unique and innovative retail experience… We are thrilled to partner with them and look forward to realizing the impact we will have on the marketplace together.

The above statement was followed up by Peter Cowgill, Executive Chairman at JD. Here’s what he had to offer:

We are extremely excited to be joining up with Finish Line, a well-established US operator… The acquisition represents an excellent opportunity for JD to establish its market leading multi-brand proposition in the world’s largest athleisure market. It immediately offers a major presence in the US, a clear next step to further increase our global scale. Finish Line has many similarities to JD with a strong bricks and mortar offering complemented by an advanced and well-invested digital platform. We are looking forward to working with Finish Line’s experienced management team to bring best in class retail theatre to the US. Our combined extensive knowledge of the retail market and our product and marketing relationships with global brand partners will benefit our customers, in turn supporting the continued future growth of JD.

What We’re Seeing From The Stock 

One of the first lessons that we learn when we start to dabble in the market is that the news causes moves. In this particular case, the news proved to be overwhelmingly positive. After all, Finish Line is being acquired with a relatively strong premium. So, it’s not a surprise to see that excited investors are pushing the value of the stock toward the top in the market today. At the moment (8:21), FINL is trading at $13.63 per share after a gain of $3.08 per share (29.19%) thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on FINL. In particular, we’re interested in following the story surrounding the company’s acquisition news. While the transaction has been announced, it is still subject to customary closing conditions as well as regulatory approval. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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