Golf equipment company Acushnet, which manufactures Titleist, is in discussions with banks about a possible IPO that could occur "next year,” according to Bloomberg News' Alex Barinka. The IPO "could value the company" at $2B. However, it is an "interesting time for golf because we’ve seen golf kind of on a decline, so maybe they’re trying to look for Asian markets, maybe they’re trying to get in front of the folks here in the U.S. who are still playing." Barinka said, "If Acushnet decides to go forward here with the Titleist IPO, do people want to buy in? That’s what they’ll be betting on” (“Bloomberg Markets,” Bloomberg TV, 9/28). CNBC’s Kate Kelly said Acushnet is “hammering out what the details may be" for an IPO. It sounds like a "so-called ‘beauty contest,’ where the banks compete for the job of taking Acushnet public.” CNBC’s Bill Griffeth noted the golf industry "has struggled for years, but Acushnet has been one of the few bright spots in that area." Griffeth said, "I’m surprised they haven’t talked about this before.” Kelly: “It’s a powerful brand in a very popular sport” (“Closing Bell,” CNBC, 9/28).
