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

Sunday, August 10, 2014

TPG makes rival $3.1 billion takeover bid for Australia's Treasury Wine -source, (NYSE: KKR)

Global private equity firm TPG Capital Management has submitted a takeover approach for Australia's Treasury Wine Estates Ltd, matching a rival $3.1 billion bid, a person with direct knowledge of the matter told Reuters on Monday. Earlier, Treasury Wine said it had received a new takeover approach, without disclosing the name of the suitor, following a bid received last week from private equity giant Kohlberg Kravis Roberts & Co LP and Rhone Capital LLC.TPG has started due diligence on Treasury Wine after deciding to submit an approach over the weekend, the person added.An external spokeswoman for TPG declined to comment.

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.