5 Stocks With Easy 9-30% Upside

4. Brown-Forman Corporation (NYSE:BF.B)

Brown-Forman grew its share prices by 12.89 percent on Thursday to close at $30.31 apiece as investors positioned portfolios following news that it received a new takeover interest from US spirits maker Sazerac.

According to a report by the Wall Street Journal, Sazerac is setting its sights on Brown-Forman Corporation (NYSE:BF.B) following confirmation that it was in talks with Pernod Ricard for a potential merger. Sazerac declined to comment on WSJ’s request for confirmation.

Investors took the news positively, as any bidding war between the two suitors could help propel Brown-Forman Corporation’s (NYSE:BF.B) shares higher.

Last month, Brown-Forman Corporation (NYSE:BF.B) confirmed that it was in talks with Pernod Ricard for a potential merger, albeit a deal with the latter was not guaranteed, as it continues to explore and evaluate strategic opportunities.

“If agreed and subject to customary approvals, this partnership would be akin to a merger of equals, drawing from the talent and expertise of both companies, and creating value for shareholders,” Brown-Forman Corp. (NYSE:BF-B) said.

“Synergies from the contemplated combination are expected to be significant, creating a global spirits leader with enhanced scale, a powerful brand portfolio, and a balanced geographic footprint, all anchored by two iconic families,” it added.