Australia's Treasury Wine Estates said on Tuesday it rejected a A$3.1 billion ($2.90 billion) takeover offer from private equity giant Kohlberg Kravis Roberts & Co LP on the grounds that the bid was too low. Treasury said U.S.-based KKR offered A$4.70 per share on April 16 but that the offer price did not represent the company's fundamental value. The stock closed at A$4.07 on Monday.
KKR & Co. L.P. (KKR), is a global investment company. Shares of KKR traded higher by 3.84% or $0.86/share to $23.28. In the past year, the shares have traded as low as $17.27 and as high as $26.50. On average, 2745180 shares of KKR exchange hands on a given day and today's volume is recorded at 2806429.
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