Callaway Golf Co. is offering suitors a bargain deal for the designer of golf clubs that helped Phil Mickelson win this year’s British Open.

The $505 million maker of Mack Daddy 2 wedges, golf balls and accessories trades at a lower sales multiple than 89 percent of similar-sized North American leisure- and sporting-goods producers, according to data compiled by Bloomberg. While the stock gained 32 percent in the past year as Chief Executive Officer Chip Brewer pursues a turnaround, Callaway may attract buyers while it’s still languishing at a lower valuation, according to Adirondack Research & Management Inc.

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