Hibbett (NASDAQ:HIBB) has reached a critical juncture in its planned merger with Steps Merger Sub, a direct, wholly-owned subsidiary of Genesis Holdings, which is part of the JD Sports Fashion portfolio.

The company announced that a crucial regulatory waiting period mandated by the Hart-Scott-Rodino Antitrust Improvements Act expired on June 7, 2024, propelling the merger towards a projected closure in the third quarter of 2024. 

While the expiration of the waiting period paves the way for the merger's advancement, the completion of the transaction remains subject to additional regulatory approvals, stockholder consent, and other customary closing conditions.