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.

Retail's downturn giving you the blues? Jim Cramer has a list of retailers that are currently oversold, giving investors a leg up one of the market's most volatile sectors.

More from Stocks

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

GE Is Too Opaque, Too Diversified and Too Poorly Managed: Doug Kass Insider

GE Is Too Opaque, Too Diversified and Too Poorly Managed: Doug Kass Insider

Google's YouTube in Hot Water Again Over Ads on Inappropriate Content

Google's YouTube in Hot Water Again Over Ads on Inappropriate Content

Should Tesla Nominate a New CEO Not Named Elon Musk?

Should Tesla Nominate a New CEO Not Named Elon Musk?