Pernod Ricard (PDRDF) is exploring a potential acquisition of Brown-Forman (BF.B) and held initial discussions with the company, Ryan Gould, Ruth David, Michelle Davis, Dinesh Nair and Crystal Tse of Bloomberg report, citing people familiar with the matter. Deliberations are ongoing and there is no certainty they will result in a deal, sources told Bloomberg. Shares of Brown-Forman jumped 6% to $24.99 before halting for volatility following the report.
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