Brown-Forman confirms discussions with Pernod Ricard

The company states: “We note the recent market rumors regarding a potential business combination involving Brown-Forman (BF.A) and Pernod Ricard. Brown-Forman regularly explores and evaluates strategic opportunities, and can confirm it is engaged in discussions with Pernod Ricard. If agreed and subject to customary approvals, this partnership would be akin to a merger of equals, drawing from the talent and expertise of both companies, and creating value for shareholders. Synergies from the contemplated combination are expected to be significant, creating a global spirits leader with enhanced scale, a powerful brand portfolio, and a balanced geographic footprint, all anchored by two iconic families. No agreement has been reached as to the terms of any possible transaction, and there can be no assurance that any such agreement will be reached. Brown-Forman does not intend to comment further unless and until an agreement is reached.”