Saturday, June 25, 2005

Callaway - To Sell or Not To Sell

Callaway Golf Co. might have new ownership according to the company in a statement released Thursday.

There have been rumors of a purchase along with an increase in stock prices in the past few months.

Now it looks like the rumors are true.

According to a release from the AP and Ronald Beard the lead independent director, "We feel that this is an opportune time to explore a full range of strategic alternatives that could enhance shareholder value."

Callaway reps also state that it has, "has received unsolicited indications of interest from various parties from time to time" and "no firm offers have been made, no substantive discussions are currently under way, and neither the board nor the senior management team has reached any decisions regarding the preferred strategic direction for the company."

One thing is for sure. Callaway Golf is searching for a new CEO to help right the ship after this past year's bad business mistakes.

Enjoy your weekend.

Hit 'em long and straight,

Evans Putman, Owner
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