Here's Why Hibbett Stock Soared Higher Today

Hibbett is being acquired at a reasonable price.Shares of sports retailer Hibbett (HIBB 19.19%) soared higher on Tuesday morning after the company agreed to be acquired by British retailer JD Sports Fashion for $1.1 billion. As of 10:30 a.m. ET, Hibbett stock was up 19% and hitting 52-week highs.A good year for Hibbett shareholdersThis deal has already been unanimously approved by Hibbett's board of directors and is expected to close later this year, pending shareholder and regulatory approval.Under the ter ...