Pernod Ricard and Brown-Forman Abandon Merger Talks, Both Confirm

Pernod Ricard and Brown-Forman are no longer pursuing a potential deal, both companies confirmed in separate press releases today. Brown-Forman’s stock fell by 5.08 percent as of 4:54 p.m. in after-hours trading following the announcements. News that discussions have been terminated comes just over a month after Pernod and Brown-Forman’s will-they-won’t-they saga came to light. In late March, both spirits producers confirmed they were exploring a business deal, which they described as a “merger of equals.” Sazerac threw its hat into the ring when it offered to buy Brown-Forman for $15 billion. The article Pernod Ricard and Brown-Forman Abandon Merger Talks, Both Confirm appeared first on VinePair.