JAY-Z's legal war against Bacardi is getting uglier with each update that surfaces.
According to a report TMZ published on Thursday, December 1, the Roc Nation founder initially offered to pay the spirits company $1.5 billion for their 50 percent stake in order to gain complete ownership of D'Ussé. Hov sued Bacardi after his offer to purchase their half of the cognac brand was rejected. While Jay thought the brand was worth $2.5 billion, Bacardi believed D'Ussé was valued at $460 million. The rapper and entrepreneur considered offering $1.5 billion because it was less than what he wanted but at least three times more than his business partners expected. Still, Bacardi rejected his bid.
That's when Hov became suspicious of what's going on behind closed doors. JAY-Z first sued the company back in October gain access to the cognac's brand's finances and then some. Apparently, Hov's legal team alleged that Bacardi was doing everything they could to "stall and stonewall" their attempts to get the information. Since then, Bacardi has pushed back by claiming that they've already forked over 800 pages of information. They also alleged the Grammy award-winning rapper tried to "inflate" the cost of the cognac.
Hov recently hit back by claiming Bacardi influenced a third party who appraised the brand. There's no word on what amount the appraiser came up with, but it's enough to make the rapper want to get rid of the brand altogether. The New York native recently asked a judge to update the result of an arbitration he and Bacardi went through in order to settle the sale. He's been wanting to sell the brand, but doesn't want to get lowballed in the process.