Chime Sold To WPP, Providence Equity Manfred: Court Ruling Won't End MASN Case Callaway Golf Reports Mixed Q2 Results CDI Reports Record Quarterly Revenue Providence Equity, WPP Eye $547M Chime Takeover DraftKings Closes On $300M Series D Round Nationals Welcome Star Wars Fans For Promo DraftKings To Close VC Funding In Coming Weeks FanDuel Closes On New VC Financing Scott Holds Ceremonial Signing for WPB Ballpark
BEN HOGAN CO. MAY BE SUBJECT OF A THREE-WAY BIDDING WAR
Published September 23, 1997
Spalding Sports Worldwide, backed by its parent, Kohlberg Kravis Roberts & Co., "is interested in buying all of" Ben Hogan Co., including its golf-ball manufacturing plant in OH, according to Lynn Henning of GOLFWEEK. But Henning writes that a "bidding war has emerged," as CA-based Taylor Made Golf Co., "which plans to enter the golf-ball market soon, is interested in buying only the [OH] operations as a manufacturing facility for its new line of golf balls;" and FL-based Edwin Watts Golf Shops, the off- course retail chain, "wants only the club-manufacturing end of Hogan as a means for adding a premier name to its in- house golf club sales." Hogan Co. is owned by VA-based businessman Bill Goodwin, who bought the company five years ago for $61M, but a "stark indicator of how far Hogan has fallen is its likely" '97 selling price, "which may not significantly surpass" $20M (GOLFWEEK, 9/20 issue).