Fortune CEO Bullish On Acushnet Takeover
/Martinne Geller and Dhanya Skariachan of Reuters talk to Fortune Brands CEO Bruce Carbonari, who calls the firesale of the Acushnet/Titleist wing of his company "a robust process." He cites four groups of potential buyers.
"There are really four groups of people that we believe will be part of the process -- we think it will be a robust process," Fortune Brands Chief Executive Officer Bruce Carbonari said on Monday at the Reuters Food and Agriculture Summit in Chicago.
He expects interest from multinational companies, which could include rivals such as Nike Inc (NKE.N) or Adidas (ADSGn.DE), private equity firms, Asian or Middle Eastern sovereign investors and high net-worth individuals.
"This is a very unusual asset. There's people out there who have a real passion for the game," Carbonari said. He declined to say whether the company had received actual bids from these players.
You have to assume though that a "high net-worth individual" has submitted a bid since round 1 ended Friday. Who could it be?