Navigate this market better. Subscribe for FREE stock alerts and information.

Sunday, August 10, 2014

Australia's Treasury Wine says gets rival $3.1 billion takeover bid, (NYSE: KKR)

Australia's Treasury Wine Estates Ltd said on Monday it had received a new takeover approach to rival the $3.15 billion bid from private equity giant Kohlberg Kravis Roberts & Co LP and Rhone Capital LLC, sparking the prospect of a bidding war for the world's No.2 winemaker. Treasury, the owner of the Penfolds, Lindemans and Wolf Blass brands, said it planned to offer the unnamed global private equity bidder time for due diligence to progress the A$5.20 per share bid, valuing the company at A$3.37 billion ($3.1 billion).

KKR & Co. L.P. (KKR), incorporated on June 25, 2007, is a global investment company. Shares of KKR traded higher by 0.57% or $0.13/share to $22.78. In the past year, the shares have traded as low as $18.74 and as high as $26.50. On average, 2585940 shares of KKR exchange hands on a given day and today's volume is recorded at 1517190.