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Article: Second bid.(PUBLIC COMPANIES)(Bain Capital and MacGregor Golf acquire Callaway Golf Co.)(Brief Article)
- Article from:
- San Diego Business Journal
- Article date:
- August 15, 2005
- Author:
CopyrightCOPYRIGHT 2005 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Second Bid: Callaway Golf Co. received a second unsolicited bid on the Carlsbad-based maker of drivers and other equipment this month. The latest offer comes from private equity firm Bain Capital and another golf company, MacGregor Golf, and represents an increase over an earlier bid from another private group.
While Callaway declined to confirm the names of the parties that have expressed interest in the company, it did hire investment-banking firm Lazard Ltd. to help it determine its fair market value.
A Los Angeles Times story stated Bain and MacGregor offered an all-cash bid of $16.25 per share that totaled $1.24 billion for Callaway, above the $1.2 ...