Callaway Golf Co. agreed to buy the rest of driving-range operator Topgolf Entertainment Group in a move that will bring a company known for its clubs and golf balls into the fast-growing sports-entertainment business. Callaway said Tuesday it reached an all-stock deal that values Topgolf at around $2 billion. Callaway, which already owns a roughly 14% stake in Topgolf, had a market value of about $2 billion as of Monday’s close.

Source: Wall Street Journal October 27, 2020 16:31 UTC