Jana eyes pushing Callaway Golf for changes, stock surges [Reuters]
Callaway Golf Company (ELY)
Last callaway golf company earnings: 2/10 04:20 pm
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callawaygolf.gcs-web.com/investor-overview
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Source: Reuters
Jana eyes pushing Callaway Golf for changes, stock surges - Reuters 3 Min Read NEW YORK, June 13 (Reuters) - Activist investment firm Jana Partners said on Thursday it owns a 9.2% stake in Callaway Golf Co and may push for changes including a possible sale, sending shares of the golf equipment maker up as much as 16%. Jana said in a regulatory filing that Callaway’s shares are “undervalued” and that it plans to hold discussions with the company’s board about “strategic alternatives including exploring a sale of the Issuer or asset divestitures.” A spokesman for Callaway was not immediately available for comment and a spokesman for Jana declined to comment. Jana and three executives who have experience in the retail sector and have served on corporate boards made the filing early on Thursday and said they now own nearly 9 million shares, after buying them in May and early June for an average price of $15.71 a share. Shares of Callaway, which has a market capitalization of $1.7 billion,
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