A new athletic retail powerhouse is one step closer to becoming reality.

On Tuesday, Dick’s Sporting Goods noted that all required regulatory approvals – including observing the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 – to complete the $2.4 billion merger have been met.

With the retailer’s path forward made clearer by regulators, the deal is now expected to close on Sept. 8, subject to the satisfaction of remaining customary closing conditions, Dick’s said.

This announcement comes just days after shareholders for voted to approve the acquisition in a special meeting held on Friday.

In May, Dick’s Sporting Goods announced its intention to acquire Foot Locker for $2.4 billion, which would combine the U.S.’s largest sporting goods retailer with one of the largest athletic shoe retailers in the country. The new giant would allow Dick’s to control more than 15 percent of the U.S. sporting goods market and could create a duopoly with the current largest athletic footwear retailer, JD Sports.

And with the closure of the sale looming just weeks away, some analysts are weary about the new company’s future. Williams Trading analyst Sam Poser is one of those voices, stating in a note last week he fears Dick’s takeover of Foot Locker will distract the sporting goods retailer from the progress it has made in recent quarters.

“Dick’s has undergone significant improvements in store layout, store design, omnichannel execution, exclusive brand execution, brand and product assortments, and to a lesser degree, in-store consumer engagement,” Poser wrote. “Overall, we believe that Dick’s Sporting Goods has become the default sporting goods store, but generally not the ‘must go to’ sporting goods store.”

But Poser added that he foresees challenges ahead for Dick’s when taking on an athletic specialty retailer like Foot Locker, which focuses on fashion lifestyle consumers and operates smaller store footprints, many of which are in malls or in urban street locations. “The expertise to run an athletic specialty retailer are not within the core competencies of Dick’s Sporting Goods,” he wrote.

The analyst also suggested that the leadership needed to run both businesses successfully does not currently exist inside the companies. “Many of Foot Locker’s most experienced, talented, and tenured leaders departed the company over the past few years, and are now holding senior merchant positions at Journey’s, Famous Footwear and Snipes,” Poser wrote. “While there are some talented merchants remaining at Foot Locker, new leadership will be needed, in our view, which will not be easy to come by, even for an ‘incredible retail expert.’”

On the bright side, however, Poser said there will be approximately $100 million to $125 million of cost synergies once the deal is closed, which will be realized in the medium term. Some of the cost savings he foresees are duplicate costs like technology and human resources, distribution center efficiencies and better terms from vendors.

“Dick’s and Foot Locker combined will be able to use its heft to pressure its vendors for more of what it wants,” Poser said. “Generally, such strength should be good. However, it’s essential that brands, especially the strongest ones, stick to their principles, and do not believe that orders from the Dick’s Sporting Goods’ and Foot Locker merchants always reflect the demand of the end consumer.”