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%.