Brown-Forman board rejects unsolicited acquisition proposal from Sazerac
The Board, with support from the Brown family majority shareholders, concluded the proposal does not align with long-term value creation.
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Producer and marketer of premium and super-premium spirits
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In short: Brown-Forman rejected a $15 billion acquisition bid from Sazerac and ended merger talks with Pernod Ricard to focus on independent growth.
The Board, with support from the Brown family majority shareholders, concluded the proposal does not align with long-term value creation.
The Board initiated a search for his successor and reiterated fiscal 2027 outlook.
Net sales decreased 1% to $3.9 billion, while operating income fell 10% and cash flow from operations grew $402 million.
The companies could not reach mutually agreeable terms for a potential business combination. Brown-Forman focuses on strategic priorities for stakeholder value.
The alcohol industry loses momentum as consumption falls, China slows down and the health trend grows. Global giants lose value at a rapid pace.
Louisville, Kentucky-based Brown-Forman Corporation (BF.B) manufactures, distills, bottles, imports, exports, markets, and sells various alcoholic beverages. Valued at $12 billion by market cap, the ...
We award a wide economic moat rating to Brown-Forman, primarily for the strong brand intangible assets associated with the spirits maker’s premium American whiskey portfolio...
Brown-Forman said on Sunday its board had received an unsolicited proposal from Sazerac, but concl...
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