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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