Pernod Ricard weighs potential Brown-Forman acquisition
Pernod Ricard is reportedly exploring a deal for Brown-Forman. Shares of the Jack Daniel's owner rose 15 percent today as initial discussions were reported.
The France-based spirits giant Pernod Ricard S.A. is reportedly exploring a potential acquisition of BROWN-FORMAN CORP-CLASS B, the manufacturer of the iconic Jack Daniel's whiskey brand. According to reports from Bloomberg News, the two companies have engaged in preliminary discussions regarding a possible transaction.
Following the news, shares of the United States-based Brown-Forman surged nearly 15%. At the time of the report, the company maintained a market capitalization of approximately $11 billion. In contrast, Pernod Ricard, which holds a market valuation of roughly 16.06 billion euros ($18.53 billion), saw its Paris-listed shares decline by about 4%.
