US funds return for second tilt at Australasia's largest wine producer

A takeover of Treasury Wine Estates (TWE), Australasia’s largest producer, looks certain with a revised offer from two US-based investment funds.

TWE has agreed to open its books to Kohlberg Kravis Roberts (KKR) and Rhone Capital after receiving a fresh $A3.4 billion offer.

Under the new proposal, the KKR-led consortium has upped its bidding price by 50Ac to $A5.20 a share.

This follows a rebuff from the TWE board in April, when the offer of $A4.70 was first made. It did not surface publicly until mid-July.

 

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