B-F Reportedly Rejects Sazerac’s $15B Offer

Dear Client: A few weeks after Brown-Forman and Pernod Ricard terminated potential merger talks [see WSD 04-28-2026], B-F has also reportedly rejected Sazerac's $15 billion offer, according to people familiar with the matter, reports the Wall Street Journal.  You may recall, Sazerac made the offer after B-F and Pernod confirmed their merger talks in April [see WSD 04-16-2026].  Sazerac's all-cash offer was backed by Wells Fargo and Apollo Global Management, some of the people familiar with the matter said, per