By Kelly Cloonan
Shares of Brown-Forman gained on a report that French distiller Pernod Ricard is looking to takeover the company.
The stock climbed 15% to $27.03 Thursday. Shares have declined 21% over the past year.
Bloomberg reported Thursday that Pernod has held some initial talks over the combination, citing unnamed sources. Neither company responded immediately to Bloomberg's requests for comment.
Both companies have been contending with soft demand in the U.S. lately as consumers, particularly younger Americans, pull back on drinking amid a growing focus on health and wellness. Brown-Forman's international sales also have come under pressure from recent tariff policies.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
03-26-26 1358ET
