Brown-Forman Turns Away Constellation Brands Offer

Constellation Brands (STZ) , a premium beer, wine, and spirits firm, has made an attempt to acquire Jack Daniel's owner Brown-Forman (BF.A) (BF.B) , CNBC reports.

Brown-Forman affirmed it was not interested in selling to the owner of spirits including Corona and Svedka Vodka, sources told CNBC.

However, Brown-Forman informed its board of directors of the interest.

There are no ongoing talks, but Constellation remains interested in a potential merger, the report said.

Shares of Constellation Brands were moving lower during the final hour of trading on Tuesday, while shares of Brown-Forman were moving higher.

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