Overview
- Brown-Forman rejected Sazerac’s bid valued at $32 a share, or about $15 billion, according to the Wall Street Journal.
- The company remains independent with no active talks after last month’s Pernod Ricard merger discussions fell apart over deal terms.
- Neither side issued a detailed statement, though Brown-Forman told Robb Report it routinely evaluates strategic options and Sazerac declined comment.
- A tie-up would have joined two Louisville spirits powers that own brands such as Jack Daniel’s, Woodford Reserve, Old Forester, and Buffalo Trace.
- Brown-Forman has been cutting costs, including a 2025 cooperage closure that cut 210 jobs and saves $70 million to $80 million a year, plus a plan to reduce about 12% of its global workforce.