GoKawiilBrown-Forman heirs revolt as Jack Daniel's parent rejects $15B Sazerac bid
Family members W.L. Lyons Brown III and Stuart Brown sent a seven-page letter to over 130 relatives criticizing Brown-Forman's board for rejecting Sazerac's unsolicited $15 billion takeover offer and for pursuing a failed merger with Pernod Ricard instead. Days after the letter circulated, CEO Lawson Whiting announced he would step down, amid a five-year period in which the company's stock has fallen 60%.
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The dispute exposes a rare public fracture in a family that has controlled the whiskey giant for over 150 years through a voting bloc called Wolf Pen Branch, which holds 60% of shares. With declining whiskey demand pressuring the business, the outcome of this internal fight could determine whether Brown-Forman remains independent or becomes a takeover target.
- Dissident heirs publicly accused the Brown-Forman board of mismanagement and hiding information from shareholders.
- CEO Lawson Whiting resigned just days after the critical letter was sent to over 130 family members.
- The family's controlling voting bloc, Wolf Pen Branch, still opposes Sazerac's $15 billion hostile takeover bid.
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Published there as: “Jack Daniel’s Is on the Rocks. Now the Family That’s Run It for 150 Years Is Turning on Each Other.”
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