Brown-Forman Corp., the maker of Jack Daniel's whiskey, reportedly favors a takeover bid from French spirits giant Pernod Ricard over a competing offer from privately-held Sazerac Company, according to a source familiar with the matter.

The preference suggests Brown-Forman's board is weighing multiple acquisition proposals for the Kentucky-based distiller, though details about the terms and valuations of the competing bids have not been disclosed. Both Pernod Ricard and Sazerac are major players in the global spirits industry.

Pernod Ricard, headquartered in Paris, owns brands including Absolut vodka, Chivas Regal whisky, and Jameson Irish whiskey. The company has been actively expanding its portfolio through acquisitions in recent years. Sazerac, based in New Orleans, is a private company that owns Buffalo Trace bourbon and other American whiskey brands.

Brown-Forman, founded in 1870, is best known for its Jack Daniel's Tennessee whiskey brand, which has become one of the world's most recognizable spirits labels. The company also produces Old Forester bourbon and other premium spirits.

No official announcements have been made by any of the companies involved regarding the reported acquisition discussions. Representatives for Brown-Forman, Pernod Ricard, and Sazerac could not immediately be reached for comment.