Spirits group, Sazerac, has reportedly put forth a $15 billion acquisition proposal for Brown-Forman (NYSE:BF, NYSE:BF), potentially disrupting the merger plans of the Jack Daniel producer with the French liquor giant, Pernod Ricard S.A. (OTC:PRNDY).
Sazerac has proposed a conventional buyout offer of $32 per share. This contrasts with Pernod’s potential share swap deal, which would allow the Brown family to maintain some control over the bourbon business they have managed since 1870, Reuters reported on Thursday.
Meanwhile, Pernod Ricard’s Chief Financial Officer, Helene de Tissot, told analysts on a conference call that discussions with Brown-Forman are “ongoing,” adding that the company does not plan to provide further updates.
Sazerac and Brown-Forman did not immediately respond to Benzinga‘s request for comments.
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