Update at 7:21 p.m. ET. Jobs to be lost in deal:
Baseball's most iconic bat has a new owner. Monday, Hillerich & Bradsby Co., which owns Louisville Slugger, announced the brand would be acquired by Wilson Sporting Goods Co. for $70 million in cash. The move means that Wilson, maker of Major League Baseball's official glove, will soon own the maker of MLB's official bat.
Jacob Ryan of NPR member station WFPL reports that some jobs will be lost in the acquisition: