The spirits sector is grappling with lower demand for alcohol, particularly in the U.S. and China. But investors changed their minds after the two companies separately confirmed the talks overnight. Pernod shares were up 3.3% at 61.90 euros in European morning trading Friday. The Wall Street Journal reported that a possible deal could be weeks away, citing people familiar with the matter. Alexandre Ricard is Chair and Chief Executive at Pernod, while the Brown family has around 67% voting control of the U.S. group.

Source: Wall Street Journal March 27, 2026 12:26 UTC