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We are excited about OGIO becoming part of Callaway and believe this acquisition aligns well with our stated goal of strategically developing growth in tangential areas, Callaway president and chief executive officer Chip Brewer said in a release. There is a robust strategic fit between the companies; both are strong brands with a sports heritage that share a passion for creating high-quality, performance-driven products. There is also significant overlap in our supply chains and go-to-market strategies, which should allow us to add value and create profitable growth. In addition to making golf bags and golf travel bags, Ogio recently started selling golf apparel and accessories such as belts and umbrellas. The company has endorsement deals with Aaron Baddeley, Kevin Streelman, Chris Stroud and Ben Kohles. Ogio also markets bags and accessories for outdoors and fitness enthusiasts, motorcyclists and triathletes. Callaway said in the release it expects Ogio to contribute $45 million to Callaways 2017 revenues with an annual EBITDA of approximately $10 million after integration is complete. After absorbing non-recurring transaction and transition expenses of approximately $7 million, Ogio is expected be dilutive by approximately 2 cents to Callaways 2017 earnings per share but should be accretive after that. Callaway intends to finance the transaction with cash on hand and borrowings from its existing asset-backed credit facilities.
For the original version including any supplementary images or video, visit http://golfweek.com/2017/01/12/callaway-acquires-ogio-for-75-5-million/
10, 2017 8:56 p.m. ET Alibaba Group Holding Ltd. said it would team up with the founder of Chinas Intime Retail (Group) Co. to take the department-store operator private, as the e-commerce giant seeks to extend its online dominance into physical stores. Chinas largest online retailer and Intimes founder, Shen Guojun, will pay as much as 19.8 billion Hong Kong dollars (US$2.6 billion) to take the Hong Kong-listed department-store chain private, Alibaba said in a statement Tuesday. Alibaba already has a 28% stake in Intime from a US$692... Alibaba Group Holding Ltd. said it would team up with the founder of Chinas Intime Retail (Group) Co.
For the original version including any supplementary images or video, visit http://www.wsj.com/amp/articles/alibaba-seeks-to-take-intime-private-with-founder-1484005494
Boeing said it accepted the conclusion of the authorities leading the search. Malaysia and Australia have contributed the bulk of search financing. Malaysia holds ultimate responsibility given Malaysia Airlines is registered there. The aircraft is thought to have crashed west of Australia, placing it in its maritime zone of responsibility. Grace Nathan, whose mother, Anne Daisy, was on the plane said the governments should consider the recommendation to search an additional 25,000 square kilometres. "If money is a concern, prioritise within this area," Nathan said. The only confirmed traces of the plane have been three pieces of debris found washed up on the island country Mauritius, the French island Reunion and an island off Tanzania. As many as 30 other pieces of wreckage found there and on beaches in Mozambique, Tanzania and South Africa are suspected to have come from the plane. The engineering group leading the search, Fugro has raised the prospect someone could have glided the aircraft outside of the defined search zone to explain why it has not been found. A Fugro representative was not immediately available for comment.
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