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"I think there's a lot of panic selling goin on, and buying,"said TSA CEO Jack Smith. "If you look at the business side of what we're doing, this is going to be really great for all of the shareholders. We'll be a $8 billion business, and we'll be better able to buy from vendors."

Under the agreement, (TSA) The Sports Authority shareholders will get 0.8 shares of Woolworth stock for each share they own in TSA. The deal is expected to close this summer.

CBS Marketwatch has the full story at:

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