Pernod Said to Eye Deal for Jack Daniel’s Maker Brown-Forman (3)

Pernod Ricard SA is exploring a potential acquisition of Brown-Forman Corp., the owner of Jack Daniel’s whiskey, as alcoholic drink companies look at ways to consolidate amid an industry downturn, people familiar with the matter said.

The French beverages company has held some initial discussions with Louisville, Kentucky-based Brown-Forman about a potential combination, according to the people, who asked not to be identified because the information is private.

Class B shares of Brown-Forman rose as much as 21% on Thursday — an intraday record - before closing up 9.6% to at $25.74 in New York trading, giving the company ...