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French spirits giant Pernod Ricard and Brown-Forman, the American company behind Jack Daniel's whiskey, are in merger discussions. The talks come as both firms look for ways to consolidate amid a broader downturn in the alcoholic beverages industry. A deal would create one of the world's largest spirits companies.

Pernod Ricard SA and Brown-Forman Corp., the owner of Jack Daniel’s whiskey, are discussing a merger as the alcoholic drink companies look at ways to consolidate amid an industry downturn.