Brown-Forman Rejects Sazerac Takeover Bid

As we predicted more than two weeks ago, Brown-Forman Corp. rejected a purported $15 billion takeover offer from Sazerac Co. No mystery on the reason: The Brown Family likes its family business. And why shouldn't it? Ever since George Garvin Brown established the company, the Brown Family has taken good care of the business, and the business has taken good care of the family.

The announcement came last week, while I was away on a little R&R.