Brown-Forman Board Rejects Sazerac's $15 Billion Takeover Bid

businessmergers-acquisitions 4 posts · 4 accounts

Brown-Forman’s board said Sazerac’s $15 billion unsolicited takeover bid is not actionable, rebuffing a second proposal from the distiller that was rejected earlier this year.

Sazerac recently wrote to shareholders and members of the Brown family urging them to reconsider the deal. The terms of the updated offer were not disclosed. Brown-Forman, which owns Jack Daniel’s, remains independent following the board's assessment.

From the sources (4 posts)

@stockmktnewz

Sazerac the maker of BuzzBallz and Buffalo Trace, has sent a letter to a group of Brown-Forman $BF shareholders to reconsider its $15B buyout offer that had been rejected Brown Forman owns Jack Daniel's - WSJ

@business

Brown-Forman did not disclose the terms of the latest offer from Sazerac, which had offered to buy the company earlier this year

@wsj

The Louisville, Ky., company is appealing to members of the Brown family to consider its previously rejected takeover proposal.

@reuters

Brown-Forman board says Sazerac unsolicited bid not actionable

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