RUMORS STILL FLY ON COBRA GOLF TAKEOVER
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).