Brown-Forman stock drops after Pernod Ricard merger talks collapse
Updated
Updated · Barron's · Apr 29
Brown-Forman stock drops after Pernod Ricard merger talks collapse
9 articles · Updated · Barron's · Apr 29
Brown-Forman’s Class B shares fell 6.2% to $26 in premarket trading, while Pernod Ricard shares dropped 3.5% in Paris.
The companies ended merger discussions after failing to agree on terms, disappointing investors hoping for a catalyst amid declining U.S. alcohol consumption.
Brown-Forman faces a third straight year of falling sales, and has also been approached by Sazerac about a potential deal.
Did Brown-Forman dodge a bullet by rejecting a merger amid global market uncertainty?
Is a $15 billion takeover by rival Sazerac the last hope for the maker of Jack Daniel's?
How much are ongoing US-Canada trade tensions to blame for the struggles of American whiskey icons?
As younger generations drink less, can whiskey giants survive without conquering the non-alcoholic market?
Could a new owner change the classic taste of Jack Daniel’s whiskey forever?