Foot Locker (NYSE:FL) may not be the sexiest company on earth, but it is smart. Two weeks ago, Foot Locker made a very savvy buy when it snapped up a leading German footwear retailer at a very big discount. 

"How big was the discount," you ask? And what does it mean for Foot Locker and its shareholders? Listen in and find out, as Fool contributor Rich Smith gives you the 411.

Editor's note: The announcement of the acquisition was made on May 8.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.