Fortune Brands announced this morning that Acushnet was being .
Acushnet has been on the chopping block for a while now. They’re a strong business, but Fortune Brands wants to focus on its core business of liquor at the urging of activist shareholder William Ackerman.
A number of bidders reportedly entered the fray trying to snap up Acushnet, who owns Titleist and Footjoy. Probably the most unexpected development (at least by me) was Callaway putting together a deal with a private equity group to try to raise the cash needed to buy the much bigger Acushnet.
