Pernod Ricard

Jack Daniel's Maker Brown-Forman Reportedly Turns Down $15 Billion Sazerac Bid Weeks After Pernod Ricard Talks Ended

Brown-Forman (NYSE:BF), the company that produces Jack Daniel’s, has reportedly turned down a $15 billion acquisition bid from its competitor, Sazerac. Sazerac’s $32 per share cash offer was declined by Brown-Forman earlier this week, reported the Wall Street Journal on Tuesday. The majority of the voting stock of Brown-Forman, a publicly traded company, is controlled by the Brown family, while Sazerac is a privately owned family business. Sazerac's all-cash bid, backed financially by Wells Farg