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Monday, March 14, 2011

Titleist Update - And Then There Were Ten!

Last weekend was the deadline for all those interested in purchasing Acushnet. So, I hope you remembered to buy your iPad 2 and submit your bid for Titleist, Vokey and Scotty! With operating income a tad north of $80 million, the price on the company that turns over $1.24 billion (mostly from golf balls) is expected to bring a sale price of $700 million on the low end up to $1.2 billion on the high end. Following the first round of bidders, the field will be cut to 10...then the accountants will do there thing and a spreadsheet frenzy begins. The bidder could still come from private equity as well as the usual suspects, including Nike, TMaG, even Cleveland Golf. No doubt the lawn at Augusta will see some interested meetings as the final scramble for the April deadline approaches.

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