Australia's Treasury Wine Estates is opening its books to Kohlberg Kravis Roberts & Co LP after the private equity giant hiked its takeover offer to $3.15 billion, raising the prospect of a bidding war for the world's No.2 winemaker.Treasury, which rejected a $2.9 billion unsolicited bid from KKR and Rhone Capital LLC in April, said the 10.6 percent rise in the offer price meant it was now "in the interests of shareholders to engage further."Asia's growing appetite for wine, the value of Treasury's Penfolds label and an ongoing restructuring are helping turn perceptions of the company's prospects around after a horror 2013 saw profits slump 38 percent in the six months to February.China's Bright Food Group Co Ltd, France's Pernod Ricard and the world's biggest wine maker, U.S.-based Constellation Brands Inc, have all been mooted as possible buyers of Treasury.
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.
Constellation Brands, Inc. is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Shares of STZ traded higher by 0.4% or $0.33/share to $83.59. In the past year, the shares have traded as low as $53.12 and as high as $94.77. On average, 1222540 shares of STZ exchange hands on a given day and today's volume is recorded at 1262065.
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