Sazerac is making another attempt to buy Brown-Forman, according to a report from The Wall Street Journal. The latest move centers on a letter from the BuzzBallz maker urging members of the Brown family to reconsider a takeover proposal that had already been turned down.
The proposal is said to value Brown-Forman at $15 billion. Brown-Forman is best known as the maker of Jack Daniel’s, making any renewed approach by Sazerac a closely watched development in the global spirits business.
The report indicates that Sazerac is appealing directly to the family behind Brown-Forman in hopes of reopening talks. That detail is significant because family influence has long been central to Brown-Forman’s direction and could be decisive in any future deal discussions.
If the renewed bid gains traction, it would rank as a major transaction in the drinks industry. For now, the key development is that Sazerac appears to be pressing for another chance after its earlier $15 billion Brown-Forman takeover proposal was rejected.
