USA: Sports Authority, Gart Merge To Create $2.5bn Chain
Two of the largest sporting goods chains in the US - The Sports Authority Inc and Gart Sports Co - are to merge, creating a national retailing giant with stores in 45 states and sales of around $2.5 billion. The merger agreement, which was announced on Friday and has been unanimously approved by the boards of both companies, is still subject to acceptance by shareholders and regulatory clearance.
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