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Pernod Ricard and Jack Daniel's Owner Brown-Forman End Merger Talks
The companies said they will keep focusing on their current strategies after talks ended without an agreement, following a reported $15 billion bid for Brown-Forman.
- On Tuesday, Louisville-based Brown-Forman and France-based Pernod Ricard ended merger talks after failing to reach "mutually agreeable terms" for a combination that would have united the world's second-largest spirits maker with the largest American whiskey producer.
- A Pernod spokesperson described the decision as "mutual," citing a "combination of elements" relating to debt structure and economics that did not serve shareholder interests.
- Both spirits makers had previously implemented restructuring plans to address sales strains from shifting consumer habits and tariff pressures, with Brown-Forman reporting net sales declines of 8% in the U.S. and nearly 60% in Canada.
- Brown-Forman stated it intends to focus on "strategic and operational priorities" including geographic expansion, while Pernod Ricard reaffirmed confidence in its current direction and internal teams.
- Meanwhile, Louisville-based spirits company Sazerac reportedly made a $15 billion bid to acquire Brown-Forman this month, though industry advisers noted such an approach would likely require an all-cash offer, forcing the Brown family to relinquish control.
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28 Articles
28 Articles
The proposed merger between the two spirits giants will not materialize.
·Brussels, Belgium
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The French group Pernod Ricard finally renounces the acquisition of the American Brown-Forman, owner of the famous whisky brand Jack Daniels The wine and spirits group Pernod Ricard
·France
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Coverage Details
Total News Sources28
Leaning Left3Leaning Right2Center10Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 20%
C 67%
13%
Factuality
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