When its $2B Merger with @Topgolf is completed early next year, @CallawayGolf expects the combined company will have a revenue mix of Topgolf (46 percent); golf equipment (30 percent); and softgoods (24 percent).@GeoffShac #callawaygolf #topgolf #golf #golfbusiness #sports pic.twitter.com/cSs6K9Eu0m
— Steve Pike (@StevePike9) October 28, 2020
While the market pounded Callaway’s stock price—down 18.83% on news of an all stock merger with Topgolf—Yahoo’s Daniel Roberts notes that Callaway diversified its business for less than half of Topgolf’s $4 billion valuation as it eyed an IPO.
But there is the pandemic and Roberts suggests the market is less bullish on a return to groups gathering for Topgolf fun as soon as Callaway may be thinking.
CEO Chip Brewer joined CNBC’s ‘Closing Bell’ to talk about what the merger would do for its golf entertainment business.
This post first appeared on GeoffShackelford.com, With GolfDigest.com - A Blog Devoted To The State Of Golf., please read the originial post: here
