Overview
- Sazerac is exploring a deal for Brown‑Forman, the maker of Jack Daniel’s, according to reports published Thursday.
- The move would set up a rival approach to Pernod Ricard, which is in discussions with Brown‑Forman about a possible merger.
- Brown‑Forman shares jumped as much as 14.9% after the reports Thursday.
- There is no agreement, as both companies declined to comment on the reports.
- Family control at Brown‑Forman has shaped past decisions, including a 2017 rejection of an approach from Constellation Brands.