Jack Daniel’s owner Brown-Forman Corp. and Jameson whiskey maker Pernod Ricard SA terminated their merger talks, marking an abrupt end to a potential transatlantic deal that was aimed at contending with the industry’s downturn.
The family-controlled American and French companies said in separate statements that they were unable to reach mutually acceptable terms. The ceased discussions may clear the way for talks between Brown-Forman and closely held Sazerac Co., the producer of Fireball, Buffalo Trace and Southern Comfort, which has approached its US peer about a potential combination.
Brown-Forman shares slumped as much as 7.1% in pre-market trading Wednesday. ...
