Company in focus
E-Z-GO golf cars – Excellence in Motion
Adams Golf hires banker to explore options
Sourced by: www.golfweek.com
Adams Golf, which has struggled to recover its shareholder value after the worldwide equity collapse of 2008, has retained investment bank Morgan Stanley to explore options that could include a sale of the company.
Chip Brewer, Adams Golf’s chief executive officer, told Golfweek in a phone interview from his office in Plano, Texas, that Adams’ board of directors voted unanimously in late December to hire Morgan Stanley.
“The board felt the share price doesn’t correctly reflect the prospect of the business,” Brewer said. “We’re pretty optimistic there will be a whole range of options out there.”
Those options could include:
On the news that Adams hired Morgan Stanley, Adams stock (ticker symbol ADGF on the NASDAQ exchange) jumped 13.5 percent, or 85 cents, to $7.16.
Click here to read the whole article.
“The board felt the share price doesn’t correctly reflect the prospect of the business,” Brewer said. “We’re pretty optimistic there will be a whole range of options out there.”
Those options could include:
- issuing a dividend to shareholders
- repurchasing shares
- selling the company
- taking the company private.
On the news that Adams hired Morgan Stanley, Adams stock (ticker symbol ADGF on the NASDAQ exchange) jumped 13.5 percent, or 85 cents, to $7.16.
Click here to read the whole article.
Details
- Type: Article
- Date: 01/09/2012
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