Topgolf Callaway Brands Corp. issued the following statement today:
“While it is our long-standing practice not to respond to market rumors and speculation, in light of today’s unusual market activity, coupled with a recent media report originating in Korea regarding discussions of a potential sale of the company or its golf equipment business, we confirm that we are not aware of any such discussions.
“We do not intend to comment further on this topic, and we assume no obligation to make any further announcements or disclosures should circumstances change.”
But they didn’t say they weren’t for sale, either.
MODG shares were up in the mid-teens at the high point Wednesday, but closed up a more moderate 8.8 percent to close the day at $15.56 a share.
Image courtesy Topgolf Callaway
