Sailing-Winds of change for America's Cup in Bermuda Triangle
HAMILTON, Bermuda, June 24 Mystery surrounds what next for the America's Cup if New Zealand win sailing's most prestigious prize in Bermuda next week.
May 24 Brown-Forman Corp, the maker of Jack Daniel's whiskey, said on Wednesday it was not for sale, following a media report that Corona beer maker Constellation Brands had offered to buy the company.
"As a matter of corporate policy, Brown-Forman does not comment on market rumors or speculation. However, it is important to reiterate that Brown-Forman is not for sale," Chief Executive Paul Varga and Chairman Geo. Garvin Brown IV said in a joint statement.
The Brown family, who are fifth-generation owners of Kentucky-based Brown-Forman, own a majority of the voting power in the company and have historically indicated that they do not favor selling.
"The company and the Brown family have been committed to preserving Brown-Forman as a thriving, family controlled, independent company. That commitment is unchanged," Varga and Brown said.
Shares of Brown-Forman ended 1.8 percent higher at $54.34 on Wednesday, but were down 2 percent in after-hours trading.
CNBC reported on Tuesday that Constellation had made a takeover approach but that Brown-Forman was not interested in selling. (Reporting by Karina Dsouza in Bengaluru; Editing by Sai Sachin Ravikumar)
June 23 The U.S. Marine Corps said on Friday it resumed flight operations for Lockheed Martin Corp's F-35B fighter jets after temporarily suspended operations a day ago because of software problems.
June 23 The UPS employee who shot three coworkers to death last week inside a United Parcel Service facility in San Francisco before killing himself appears to have singled out his victims deliberately, but a motive remains unknown, police said on Friday.