There is now officially one less golf company in Carlsbadistan as TaylorMade-adidas Golf has finished its purchase of golf clothing manufacturer Ashworth for $1.90 a share.
As a result of the acquisition, Ashworth will become a wholly-owned subsidiary of TaylorMade-adidas Golf and any shares of Ashworth common stock not tendered will be cancelled and converted into the right to receive the $1.90 in cash per share to be paid in the tender offer, without interest and less any required withholding taxes.
TaylorMade’s parent company, the adidas Group, has 37,000 employees and generated $10.3 billion in sales in 2007. Seems like a nice family to belong to in these times of economic distress.
[Link: Trading Markets]
RSS Feed-Posts
{ 0 comments… add one now }