The merger of Callaway Golf Co. and Topgolf International has been completed, following approval of the deal by a majority of the shareholders of both companies. Topgolf’s assets include a number of golf driving ranges, a ball tracing system and other golf-related entertainment tools and media. As originally agreed last October, to complete the merger, Callaway is issuing about 90 million shares to the shareholders of Topgolf excluding those of Callaway, which previously held about 14 percent of Topgolf’s shares. The new shares are worth about $2.7 billion. As a result of the merger, Callaway shareholders will own about 51.3 percent of the new combined entity. The balance of 48.7 percent will be owned by former Topgolf shareholders, excluding Callaway. A number of shareholder suits that demanded more clarify on the assumptions and projections made to justify the merger have been withdrawn. The combined company will see Chip Brewer, president and CEO of Callaway, serve as its president and CEO, with Dolf Berle continuing to run Topgolf for a transition period before stepping down. John Lundgren, chairman of Callaway, will be the chairman of the new company, aided by Erik Anderson, chairman of Topgolf, in the role of vice chairman.