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Jana Builds Stake in Callaway and Plans to Push for Sale

(Bloomberg) Activist investor Jana Partners has built a stake in Callaway Golf Co. and is urging the sporting goods company to launch a strategic review, including exploring a potential sale. The New York-based hedge fund run by Barry Rosenstein said in a regulatory filing late last week that it bought 9.5% of Callaway Golf because it believes the shares are undervalued.

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