Dick’s Sporting Goods is Nearing $2.3 Billion Deal for Foot Locker

Dick’s Sporting Goods Inc. is in advanced talks to buy Foot Locker Inc., whose stock had dropped 41 percent this year amid the back-and-forth over tariffs, according to people familiar with the matter.

Under the transaction being discussed, Dick’s would pay $24 a share for Foot Locker, one of the people said. A deal could be announced as soon as Thursday, said the people, asking not to be identified because the talks were private.

Foot Locker shares closed at $12.87 on Wednesday, giving…