Rumors are swirling about a potential deal involving Topgolf Callaway Brands (NYSE: MODG), leaving investors dreaming about above-par returns. Shares of the golf and entertainment company climbed 13.6% in March, according to data provided by S&P Global Market Intelligence, as the market digested buyout talk from overseas.

Topgolf Callaway was formed by a 2021 merger that, although seemingly logical at the time, has not been a hit with investors. Callaway is one of the most storied names in golf with a full line of products including clubs, balls, and apparel. Topgolf, meanwhile, is a chain of golf-related entertainment centers catering to consumers who enjoy swinging the club but who might not want to commit to playing a full 18 holes.

But the company has struggled to stay in the fairway, and shares have lost about half of their value since 2021.

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Source Fool.com