Market Chatter: Brown-Forman Rejects $15 Billion Buyout Bid From Sazerac
MT Newswires Live
May 13
Brown-Forman (BF.A, BF.B) rejected a takeover proposal worth around $15 billion from Sazerac, the Wall Street Journal reported Tuesday, citing people familiar with the matter.
The owner of Jack Daniel's turned down Sazerac's $32-a-share cash offer, which was financially backed by Wells Fargo (WFC) and Apollo Global Management (APO), the report said.
Brown-Forman did not immediately respond to a request for comment from MT Newswires.
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