French beverage giant Pernod Ricard confirmed Thursday that merger negotiations with American whiskey producer Brown-Forman remain active, according to statements made during a financial conference call.
Chief Financial Officer Helene de Tissot confirmed to industry analysts that discussions are “ongoing” but indicated the company would not provide additional updates on the potential deal.
The merger effort faces new challenges after American spirits company Sazerac submitted a competing $15 billion acquisition offer for Brown-Forman, according to sources familiar with the negotiations who spoke Wednesday. This development adds complexity to Pernod Ricard’s pursuit of the company that produces Jack Daniel’s whiskey.
