SBD/3/Finance

DON'T CRY FOR THEM: TEAR DROP TO ACQUIRE TOMMY ARMOUR GOLF

          NJ-based Tear Drop Golf Co. is expected to announce
     today an agreement to acquire Tommy Armour Golf Co. from
     U.S. Industries for "about" $24.5M in stock and cash,
     according to the WALL STREET JOURNAL.  Tear Drop said it
     will pay "about" $10M in cash and the rest in stock, giving
     U.S. Industries a "substantial stake" in the company.  Tear
     Drop, best known for its putters and wedges, said that the
     Armour purchase will enable it to offer a "full-line of
     premium clubs," and put it in a "better position to develop"
     contracts with pro players.  Tear Drop will maintain its
     operations in Union, NJ, while Armour will continue to be
     based in Morton Grove, IL (WALL STREET JOURNAL, 11/3).

Return to top

Related Topics:

Finance

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug