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RUMORS STILL FLY ON COBRA GOLF TAKEOVER
Published September 11, 1995
Stock in Cobra Golf jumped 4 3/8 on Friday to 36 7/8 as rumors hit that "the premium golf club maker" would be acquired by American Brands Inc. for about $480M, according to the N.Y. POST. CNBC financial correspondent Dan Dorfman reported that "an American Brands-Cobra deal is near. It's a good fit. ... Cobra insiders, who own about 40 percent of the stock are willing sellers." Analysts say an offer would likely range from $40-46 a share. A combination "does make sense," according to the N.Y. POST. An acquisition of Cobra would build on American Brands' "already strong" Titleist and FootJoy brands (N.Y. POST, 9/9).