Brown-Forman confirms merger-of-equals discussions with Pernod Ricard

BROWN FORMAN CORP

Discussions with Pernod Ricard regarding a potential business combination akin to a merger of equals.
No agreement has been reached; no assurance any transaction will occur.
Expected significant synergies, creating global spirits leader with enhanced scale and iconic brand portfolio.
Brown-Forman will not comment further unless and until an agreement is reached.

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