Philips Arena Renovation Could Start Soon "TMNT" Returning As Chicagoland Race Sponsor Goodell: NFL "Studying" Marijuana Use Joshua-Klitschko To Draw Record Crowd NFL Draft Overnight Best Since '14 Sources: Pacers' Bird Stepping Down Raiders Hosting Draft Party In Las Vegas SBJ In-Depth: Facilities - Concessions Jack Link's Gets Creative With Draft Exposure Sharapova's Return Injects Needed Star Power
SBD/March 19, 2012/FinancePrint All
TaylorMade-adidas Golf today announced plans to acquire all of the outstanding shares of Adams Golf in a deal valued at about $70M. That represents a premium of approximately 71% to the share price prior to Adams' announcement in January that it was examining strategic alternatives. The Adams Golf BOD has unanimously approved the transaction, and the deal is expected to close in mid-2012. TaylorMade-adidas has opted to keep Adams' HQs in Plano, Texas (TaylorMade-adidas Golf). Golf Channel’s Erik Kuselias said of TaylorMade purchasing Adams Golf, “adidas group gets a little bigger.” Golf Channel’s Gary Williams, on TaylorMade's purchase, “It is very good for the consumer. Adams Golf, their niche and their strength is the market segment for hybrids and if you add that category to TaylorMade which makes great irons … you are adding to a portfolio that is now incredibly well-rounded” ("Morning Drive," Golf Channel, 3/19).