In a deal confirmed by both parties and expected to close in early 2021, Callaway, which first acquired 14 per cent of Topgolf in 2006, will now take ownership of the rest of the company's shares.
That agreement included an integrated partnership at all Topgolf venues.
Investors were not happy with the deal, as Callaway's stock fell 18%.
Callaway chief executive Chip Brewer said the deal is created to attract new customers and add a stronger digital component to golfing, including microtransactions around personalised content in future.
Callaway Golf Co. has agreed to buy the remaining stake in driving-range chain Topgolf Entertainment Group in an all-stock deal.
Golf club maker Callaway Golf Co said on Tuesday it would buy the rest of Topgolf Entertainment Group, giving the US driving-range operator an equity value of about $2 billion.
Health department reports 16 new Covid cases Thursday
The largest increase was identified in Moscow, where 4,312 new positive tests were registered (down from 5,224 on Monday). Most of the patients hospitalized are ages 65 or older, and most of the deaths have occurred in patients 65 or older.
Topgolf, which has grown at a 30% compound annual rate since 2017, generated about $1.1 billion in revenue a year ago. "We've long seen value in Topgolf and we are confident that together, we can create a larger, higher growth, technology-enabled global golf and entertainment leader".
Callaway wasn't the only stock that suffered a near-20% plunge on Wednesday after a major announcement.
Callaway's stock had a particularly "tough day" after the deal was announced, Brewer said on CNBC's "Closing Bell". He said the stock had been heavily sold out beyond the broader market, although the timing of the announcement was "clearly not our friend". The combination of the two companies creates an entity that "doesn't really replicate anything that now exists".
Callaway is convinced the deal offers long-term value creation for shareholders despite the clear signal from investors that says otherwise, the CEO acknowledged.
"We come from an insider perspective and it is a proven model that has excellent growth prospects", he said.
Ultimately, the transaction will "more than double our growth prospects" and allow the company to operate from an even stronger position of strength.
The White Sox at least had it fixed when they tweeted out the La Russa announcement, this time with the correct signature. The 76-year-old has not managed a major-league team since retiring after winning the 2011 World Series with the St.
Senator Amy Klobuchar, D-Minn., and Facebook CEO Mark Zuckerberg clash over political advertisements during the Big Tech hearings. Zuckerberg said he broadly supports legislative concepts aimed at boosting transparency on companies' content decisions.
We bet she would make for a resplendent bride on her D-day and these pictures from her pre-wedding ceremonies are proof of it. For the mehendi , Kajal looked gorgeous in a mint coloured floral printed ethnic outfit from the studios of Anita Dongre.
USPS told Fox News on Thursday that it is not aware of a "federal investigation" into allegedly lost ballots in Butler County. Supreme Court signaled this week that any ballots counted after Election Day could lead to "charges of a rigged election".
The state Department of Health and Human Services reported 266,136 confirmed cases of COVID-19, up 2,253 from Tuesday's total . Most of the patients hospitalized are ages 65 or older, and most of the deaths have occurred in patients 65 or older.
The defacement lasted about half an hour and seemed to be related to cryptocurrency, according to The New York Times . To get hacked you need somebody with 197 I.Q. and he needs about 15 percent of your password".
On Tuesday, Lawrence told reporters he could return to school for his senior year and there "are a lot of things that can happen". Lawrence was asked on Tuesday about turning pro, and he said he has been operating as if this will be his past year in college.
Tiger Woods , second behind Nicklaus on golf's all-time majors list, joined Nicklaus and Trump for one round in 2019. Nicklaus, who has always been friends and played golf with the president, said he's learned to look past some of Mr.
As for the 2068 encounter, that can not be ruled out, at least not yet, owing to how the Yarkovsky effect is influencing Apophis. This could happen by either expelling gasses, or the gravitational movement from celestial bodies including the Sun and Earth.
Starmer, elected in April, has vowed to stamp out prejudice and restore relations between the party and the Jewish community. Starmer, who has vowed to root out anti-Semitism, said the report marked a "day of shame" for the party.
Le but est même double avec la possibilité de distancer, dès ce soir, un concurrent direct pour la qualification en 16e de finale. Dans un stade Pierre Mauroy à huis clos, le Losc espère poursuivre sa belle série ce jeudi face aux Ecossais du Celtic .
The U.S. government also has the option to purchase up to an additional 650,000 vials for $812.5 million, the U.S. The antibody therapy is similar to a drug from Regeneron that was given to Trump during his bout with COVID-19.
Une Marocaine à la tête du volleyball africain
Elle est aussi membre de la Commission culture et patrimoine olympique du Comité international olympique (CIO). Ancienne volleyeuse, la Marocaine est la première femme à diriger une Fédération de sport collectif au Maroc.
Early voting in Oklahoma starts Thursday
Unfortunately, polls reveal a stark partisan difference between those voting by mail and those voting in person. There are also higher rejection rates among mail-in ballots, which could turn the tide in a close election.
Young People are Less Likely to Wear Masks — CDC
He told Yahoo Life that younger adults tend to be "most risk-tolerant" or more willing to put themselves in danger. They said targeted messaging and behavior modification interventions were needed to encourage younger adults.