Callaway Golf in talks to buy the rest of TopGolf it doesn’t own–WSJ

/ / News

Shares of Callaway Golf Co. rose rose 2.7% in midday trading Tuesday, after The Wall Street Journal reported that the golf equipment maker was nearing a deal to buy the rest of driving-range operator TopGolf Entertainment Group that it doesn’t already own. The stock’s gain gave Callaway a market capitalization of about $1.92 billion. Citing people familiar with the matter, the WSJ report said the deal, which could be finalized this week, would value TopGolf at more than $2 billion. Callaway owns a roughly 14% stake in TopGolf, the report said. Callaway’s stock has slipped 3.6% year to date, while the S&P 500 has gained 5.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.