Brown-Forman and Pernod Ricard’s $15 billion deal talks fell apart not over price, but over control.

The two families behind the liquor giants — one a multi-generation Kentucky stalwart and the other a French clan that traces its lineage back to 1805 — couldn’t agree on how much of the combined company each would control, people familiar with the matter said. The Brown family wields about 80% of Brown-Forman’s voting power, while the Ricard heirs control about 21% of their family business.

Pernod’s controlling shareholder, the Ricard family, remains open to reengaging with Brown-Forman if the Brown family were willing to open discussions on that point, one of the people briefed on the conversations said.