Brown-Forman’s stock soared on deal talks. Its valuation had tumbled to financial-crisis levels.

Shares of Brown-Forman surged, after Bloomberg reported that Pernod Ricard was looking into a potential acquisition of the Jack Daniel’s whiskey parent..

• Pernod Ricard exploring acquisition of Brown-Forman
• Brown-Forman stock surged on deal speculation
• Valuation had previously fallen to crisis-levels, suggesting undervaluation