Kohlberg Kravis Roberts & Co LP has raised its bid for Australia's Treasury Wine Estates to $3.15 billion, the world's No.2 winemaker said on Monday, adding it would grant the private equity giant access for due diligence.Treasury said KKR and Rhone Capital LLC had raised their bid by 10.6 percent to A$5.20 per share from the A$4.70 offered in April.Treasury, which owns the Penfolds, Wolfblass and Beringer brands, rejected that bid as too low in May after KKR began approaching investors directly."The board of TWE, together with its advisers, has concluded, based on the revised proposal, that it is in the interests of its shareholders to engage further with KKR and Rhone," Treasury said in a statement. It would allow the bidders to conduct "non-exclusive due diligence" subject to a confidentiality agreement.
KKR & Co. L.P. (KKR), incorporated on June 25, 2007, is a global investment company. Shares of KKR fell by 0.13% or $-0.03/share to $22.89. In the past year, the shares have traded as low as $18.74 and as high as $26.50. On average, 2746750 shares of KKR exchange hands on a given day and today's volume is recorded at 4291568.
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