Treasury Wine Estates ends discussions for largest wine takeover

Overseas ownership of Australasia’s largest wine company is off the agenda.

Treasury Wine Estates (TWE), which counts Penfolds, Wolf Blass, Wyndham and New Zealand’s Matua Valley among its labels, says it has ceased due diligence discussions with two international private equity groups.

After sounding out shareholders representing 50% of company, TWE has rejected the bids of $A5.20 a share, saying the two bidding groups were “not able to support a transaction on terms and at a price acceptable to the board.”

 

Want to read more?

Choose a Subscription type that's right for you HERE
Already have an account? Login