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post #1 of 24 (permalink) Old 06-22-2004, 09:05 AM Thread Starter
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Dick's to acquire Galyan's

Looks like the $16.75 per share tender offer will go through....

I sure hope the do not scale down their hunting department. They always have a great selection of guns and Dick's did not.

I also like the Galyan jeans which may now be called Dick's....

I may have to wear them backwards
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post #2 of 24 (permalink) Old 06-22-2004, 09:06 AM
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you have a link to that story?

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post #3 of 24 (permalink) Old 06-22-2004, 09:09 AM
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Crap...Dick's sucks!

Galyans is awesome on many fronts. I hope this acquisition does not ruin the fine reputation Galyans has....

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post #4 of 24 (permalink) Old 06-22-2004, 09:10 AM
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i have never even heard of Dick's...

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post #5 of 24 (permalink) Old 06-22-2004, 09:12 AM
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Re: Dick's to acquire Galyan's

Quote:
Originally posted by Kruz
I sure hope the do not scale down their hunting department. They always have a great selection of guns and Dick's did not.

Not all Galyans have a hunting department. Sometimes what a sporting goods store carries is dictated by it's location. Galyans in Orland won't sell more than a bb gun

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post #6 of 24 (permalink) Old 06-22-2004, 09:13 AM
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I've been to the Dicks in Bloomington. It was not bad. but Galyans was always nicer.




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Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

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post #7 of 24 (permalink) Old 06-22-2004, 09:27 AM Thread Starter
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Sorry...story was on Bloomberg.
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post #8 of 24 (permalink) Old 06-22-2004, 09:28 AM
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As long as no one messes with Gander mountain I'll be happy. That place is a shrine.




HDTony.... Damn glad to meet you!

Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

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post #9 of 24 (permalink) Old 06-22-2004, 09:28 AM Thread Starter
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The one in Bloomington is so small though....
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post #10 of 24 (permalink) Old 06-22-2004, 09:30 AM
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Quote:
Originally posted by Kruz
The one in Bloomington is so small though....
Go to St. charles, its worth the trip. I walk in there and then for some reason every time I walk out its dark out. I dont know how time flys by so fast in there.




HDTony.... Damn glad to meet you!

Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

- Ronald Reagan

AirTek Heating & Air inc.
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post #11 of 24 (permalink) Old 06-22-2004, 09:31 AM
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Quote:
Originally posted by Kruz
Sorry...story was on Bloomberg.
Kruz....you're so helpful. lol


04:27pm EST 21-Jun-04 PR Newswire - First Call Wire (Dick's Sporting Goods, In
Dick's Sporting Goods, Inc. Agrees to Acquire Galyan's Trading Company, Inc.

PITTSBURGH, June 21 /PRNewswire-FirstCall/ -- Dick's Sporting Goods, Inc.
(NYSE: DKS) announced today that it and Galyan's Trading Company, Inc.
(Nasdaq: GLYN) have entered into a definitive agreement and plan of merger for
Dick's to acquire all of the issued and outstanding stock of Galyan's. Under
the terms of the agreement, Galyan's shareholders would receive $16.75 per
share in cash. The acquisition is structured as a cash tender offer for all
of the issued and outstanding shares of Galyan's.
Dick's offer represents a premium of 53% over Galyan's closing stock price
as of June 18, 2004. Based on approximately 18.2 million outstanding Galyan's
shares and the assumption of approximately $57 million in net debt, the
transaction would be valued at approximately $362 million.
Dick's expects to commence the tender offer for the Galyan's shares on
June 28, 2004. The tender offer is contingent upon various conditions,
including that a majority of Galyan's issued and outstanding common stock on a
fully diluted basis are being tendered and not withdrawn. The tender offer and
the transactions contemplated thereby are anticipated to be completed by
October 2004, subject to Hart-Scott-Rodino approval under United States
antitrust laws and customary closing conditions.
Holders of Galyan's common stock who collectively beneficially own
approximately 55% of the outstanding common stock through an affiliate of
Freeman Spogli & Co. and Limited Brands, Inc., have agreed to tender their
shares to Dick's.
Upon completion of the acquisition of the 47 Galyan's stores, Dick's
Sporting Goods would operate 216 stores in 32 states. Dick's and Galyan's
combined generated revenue of approximately $2.2 billion in fiscal 2003.
Following the completion of the merger, the combined company will operate from
Dick's Sporting Goods' corporate headquarters in Pittsburgh, Pennsylvania.
Dick's Sporting Goods management anticipates that the acquisition will be
slightly accretive to its previous diluted earnings per share guidance of
$1.27 - 1.28 for fiscal 2004 and is increasing its guidance to $1.28 - 1.30.
Dick's anticipates diluted earnings per share in 2005 of $1.70 - 1.75, an
increase of more than 30% over the 2004 guidance. These estimates include
savings and synergies, and exclude any merger integration costs. Beginning in
2005, Dick's Sporting Goods' management anticipates that there would be
approximately $20 million of annualized cost savings and merchandise buying
improvements that will result from the acquisition.
"We are excited to have entered into this agreement, which represents an
extraordinary opportunity for both Dick's Sporting Goods and Galyan's," said
Edward W. Stack, Chairman and Chief Executive Officer of Dick's Sporting
Goods. "Combining the financial discipline, operating metrics, and innovative
store design of Dick's that have led to our industry-leading financial
performance, with the people, real estate, and distribution infrastructure of
Galyan's creates a compelling rationale for this transaction."
"The Dick's Sporting Goods and Galyan's store locations are complementary,
and the combination of the Galyan's store design, customer service and premium
locations with Dick's emphasis on execution and inventory management make for
a best in class shopping experience. This combination produces minimal overlap
while providing a stronger presence in existing markets that have significant
remaining in-fill opportunities. We expect to close relatively few stores,
some from each chain due to overlap or financial performance."
Mr. Stack continued, "Galyan's primary distribution center in Plainfield,
Indiana serves the geographic footprint of the combined company very well, and
Dick's intends to continue to operate that facility. The combination of the
Galyan's and Dick's distribution centers position us to support the logistical
needs of our growing company."
Peter J. Solomon Securities Company Limited and Merrill Lynch & Co.
provided financial advisory services to Dick's Sporting Goods in connection
with the transaction.

Conference Call and Simulcast Scheduled to Discuss Acquisition
Management of Dick's Sporting Goods will conduct a conference call to
discuss this acquisition today, at 5:15 p.m. Eastern Time, which will be
simulcast on the web on the Company's web site
at http://www.dickssportinggoods.com/investors . Slides to accompany the
presentation also can be downloaded from the Company's web site.

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post #12 of 24 (permalink) Old 06-22-2004, 09:46 AM
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Quote:
Originally posted by MoparBoyy
i have never even heard of Dick's...
I think they own either the Sportmart or the Sports Authority.
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post #13 of 24 (permalink) Old 06-22-2004, 09:54 AM Thread Starter
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Gart owns SPortmart and TSA

My BB terminal is separate and I haven't figured out how to link yet....plus some of us work around here....
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post #14 of 24 (permalink) Old 06-22-2004, 09:58 AM
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Quote:
Originally posted by Kruz

My BB terminal is separate and I haven't figured out how to link yet....plus some of us work around here....

Reuters is more user friendly. I cheated and simply did a copy paste. bam.........back to work.

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post #15 of 24 (permalink) Old 06-22-2004, 10:09 AM Thread Starter
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Hmmm I have Reuters on my desktop...i just never really used it.
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post #16 of 24 (permalink) Old 06-22-2004, 10:11 AM
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Quote:
Originally posted by Kruz
Hmmm I have Reuters on my desktop...i just never really used it.
Well hell, in that case I'll never invest with you




HDTony.... Damn glad to meet you!

Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

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post #17 of 24 (permalink) Old 06-22-2004, 10:15 AM
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Quote:
Originally posted by HDTony
Well hell, in that case I'll never invest with you
lol....I hate to defend Kruz ever .....but reuters is an awful analytical tool. Bloomberg is where it's at for what Kruz does. Reuter Bridgestation rocks for saving tons of time getting real time news, quotes and basic company info.

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post #18 of 24 (permalink) Old 06-22-2004, 10:17 AM
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well ok in that case, hey Kruz I got 50 bucks, what can you turn it in to?




HDTony.... Damn glad to meet you!

Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.

- Ronald Reagan

AirTek Heating & Air inc.
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post #19 of 24 (permalink) Old 06-22-2004, 10:20 AM Thread Starter
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Sorry Tony....you need a little more than $50.
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post #20 of 24 (permalink) Old 06-22-2004, 11:03 AM
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I'm surprised Vcook hasn't commented on this deal. He's always talking about Dick's and how much he loves Dick's.

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post #21 of 24 (permalink) Old 06-22-2004, 06:38 PM
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Quote:
Originally posted by HDTony
As long as no one messes with Gander mountain I'll be happy. That place is a shrine.

Not the ones around here. The gun dept guys have NO CLUE about anything firearm related other than selling them. I had one in Janesville tell me semi autos are illegal to have in WI. One in Madison try to tell me a pistol grip on a full length stock shotgun is illegal also but the game warden says otherwise. Another one in Janesville refused to sell me primers for my brothers .44 because "I" didnt know what brand I wanted. Geesh I ran out and they didnt have the ones I want in stock.


We just had Galyans open in Madison a few months ago and now we are getting 2, yes TWO, Dicks SPorting goods stores too boot. Real funny thing is, both are being built within a block of Both Gander Mountains in Madison.

I'm not crazy, my mother had me tested.
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post #22 of 24 (permalink) Old 06-22-2004, 06:59 PM
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we have the first super gander deal here in Geneva Rob, they took over an old KFart. its about 100,000 sf. Variety is nice

Nice store....jury is still out on the knowledge of the staff

Mike

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post #23 of 24 (permalink) Old 06-22-2004, 07:02 PM
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Quote:
Originally posted by HDTony
Go to St. charles, its worth the trip. I walk in there and then for some reason every time I walk out its dark out. I dont know how time flys by so fast in there.
And don't you walk out a few $100.00 poorer??? That place is nice, they have a great camping section.

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hahahaha, nice try. Everyone knows men age like wine and women age like milk. It's a scientific fact!!
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post #24 of 24 (permalink) Old 06-22-2004, 07:36 PM
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Galyans is nice but Cabella's is the shiat! And a scant 45 minutes from the house

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