Bloomberg: Acushnet could fetch $1.5 billion

Fortune Brands has selected Morgan Stanley to sell off its golf division, Acushnet Golf, which is comprised of the Titleist, FootJoy and Pinnacle brands, according to Bloomberg.

It spoke with four people with knowledge of the matter who said the sale could bring as much as $1.5 billion. The report also put forth that strategic buyers such as Nike, Adidas may be approached along with Asian companies and private-equity firms.

-- E. Michael Johnson