Brown-Forman, Pernod Ricard End Talks on Potential Combination
MT Newswires Live
Apr 29
Brown-Forman (BF.A) and Pernod Ricard ended discussions over a potential business combination after failing to reach mutually agreeable terms.
"We intend to create long-term value for all stakeholders by focusing on our strategic and operational priorities," Brown-Forman said Tuesday in a statement. "This includes unlocking future growth by expanding our geographic footprint, continuing to build brands that resonate with consumers, and enhancing operational efficiency."
In late March, the companies confirmed they were in talks, noting "there could be no assurance that any such agreement would be reached."
Brown-Forman shares fell 2.9% in after-hours trading.
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