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00:03Pernod Ricard and Brown Foreman ended merger talks after failing to reach mutually acceptable
00:07terms, according to Reuters. The companies had disclosed discussions last month on a potential
00:12deal that would combine the world's second largest spirits maker with the largest producer
00:17of American whiskey. During the talks, Sazerac emerged as a competing bidder for Brown Foreman.
00:25Pernod Ricard said it remains focused and confident in its strategy and operating model
00:30to deliver long-term value for stakeholders. Brown Foreman said it will focus on strategic
00:36and operational priorities, including expanding its geographic footprint to drive future growth.
00:42A Pernod spokesperson said the decision was mutual and based on a combination of factors
00:47related to debt structure and economics. Shares of Brown Foreman fell about 5% in extended trading.
00:53For all things money, visit Benzinga.com.
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