Sazerac offered to buy rival spirits maker Brown-Forman (BF.A) (BF.B) for around $15B, or $32 per share, people familiar with the matter told The Wall Street Journal’s Laura Cooper and Lauren Thomas. Sazerac’s interest comes as Brown-Forman has been in deal talks with another competitor, French spirits-maker Pernod Ricard (PDRDF), the report noted.
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Read More on BF.B:
- Brown-Forman price target raised to $31 from $28 at Citi
- Brown-Forman buyer may need to pay $33-$34 per share for deal, says TD Cowen
- Sazerac approached Brown-Forman about potential deal, WSJ reports
- Sazerac joins Pernod in pursuit of Brown-Forman deal, WSJ reports
- Brown-Forman B shares jump 8% after WSJ report of Sazerac deal interest