Foot Locker no longer interested in Genesco

Since last year, Foot Locker Inc. — the athletic shoe retailer — had been looking to possibly sell more than sports footwear and apparel and thought it had found a company that was a complementary fit in Genesco Inc. The Nashville-based target, however, rebuffed Foot Locker's $1.2 billion takeover offer on April 23, and now Foot Locker announced Thursday that it will no longer pursue Genesco, the operator of Journeys, Johnston & Murphy, Hatworld and Lids stores. Foot Locker will continue to work with its strategic adviser, Lehman Brothers Inc., to look at other opportunities. —Gerald Magpily

See Foot Locker press release
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