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Topgolf Callaway in Talks with Private Equity for $1B Topgolf Unit Sale
Topgolf Callaway in Talks with Private Equity for $1B Topgolf Unit Sale
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BTCCSquare news:
Shares of Topgolf Callaway Brands (MODG) surged nearly 7% following reports of advanced discussions with private equity firm Leonard Green & Partners for a potential $1 billion acquisition of its Topgolf unit. The deal, if finalized, WOULD mark a strategic shift four years after Callaway's $2.66 billion all-stock purchase of Topgolf, which later prompted a corporate rebranding.
The Wall Street Journal notes negotiations remain fluid, with no guarantee of completion. Leonard Green, an existing minority stakeholder, has previously advised Topgolf management. The separation would leave Callaway's $2.5 billion golf equipment/apparel business intact while spinning off Topgolf's $1.8 billion high-tech golf entertainment operations.
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