On Friday, investors sent shares of Boston Beer (NYSE: SAM) up 22% on reports that the U.S. brewer was in talks to sell itself. Alas, the alleged suitor has poured cold water on that excitement.

Shares of Boston Beer were trading down by 8% as of 10 a.m. ET Monday after Japanese whiskey maker Suntory said it was not in discussions to buy the company.

Boston Beer and Suntory have been working together since 2021, blending Suntory-owned spirits such as Jim Beam and Maker's Mark to create so-called ready-to-drink beverages and promote Boston Beer's Truly Hard Seltzer brand.

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Source Fool.com