Shares of Callaway Golf are soaring on the first day of action at the US Open, but not because of anything happening at Pebble Beach. Activist investor Jana Partners disclosed a big stake in Callaway, and it's pushing for a sale of the company.
New York It's fitting: Shares of Callaway Golf are soaring on the first day of action at the US Open. But the stock isn't moving because of anything happening at Pebble Beach.
Activist investor Jana Partners disclosed a big stake in Callaway, and it's pushing for a sale of the company.Jana Partners reported in a Securities and Exchange Commission filing Thursday that it has acquired a more than 9% stake in Callaway Golf , the maker of the popular Big Bertha, X Hot and X2 Hot line of clubs and drivers.Callaway's stock surged nearly 15% on the news. Shares of another publicly traded golf company, Titleist owner Acushnet , rose more than 3% as well.
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