Pernod Ricard is in talks to merge with or acquire Brown-Forman. Bloomberg reported today that the two are engaged in “initial discussions” about a possible acquisition or “combination.” A source familiar with the matter told Reuters today that the French and American spirits giants are exploring a potential merger.
Brown-Forman shares skyrocketed by 21 percent following the Bloomberg report before closing the day up 9.58 percent. Pernod Ricard’s shares finished the day down 7 percent.
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