Brown-Forman Stock Dips After Rejecting Sazerac's $15 Billion Cash Offer
Brown-Forman shares fell modestly on Tuesday after reports that the company declined a $15 billion takeover bid from rival Sazerac. Advisers informed Sazerac on Monday that the $32-a-share all-cash offer would be rejected. The offer, backed financially by Wells Fargo and Apollo Global Management, would have given Class A shareholders the option of …