Second fund turns big wine takeover into bidding war

Another US private equity group has emerged as a rival bidder for Australia’s largest wine company.

Treasury Wines Estates – split off from Foster’s Group in 2011 – already has a $A5.20 a conditional share offer from KKR and Rhome Group, which are doing due diligence.

That bid values Treasury at nearly $A3.4 billion.

Yesterday the company announced it had another indicative, non-binding and conditional proposal from an unnamed fund at the same price.

 

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