The world's biggest listed winemaker, Australia's Treasury Wine Estates (TWE), has received a second multi-billion-dollar takeover bid for its business. The offer is worth $3.17 billion and has come from an unnamed global private equity firm. Presumably, TPG Capital has stated its readiness to purchase the business of Treasury Wine Estates. Earlier, the U.S. private equity giant KKR launched a bid to merge with the winemaker. The shares of the Australian manufacturer were assessed at $4.7 apiece in April 2014. However, KKR bid a higher price for the deal on August 4.
Treasury Wine Estates owns such exquisite brands as Wolf Blass, Rosemount, and Lindeman's. Besides, it is the co-partner of Penfolds, Australia's most recognized winemaker. Treasury Wine Estates delivers its products to 16 countries worldwide. The company employs over 3,500 people. August 11, TWE’s shares spiked 3.5% to $5.31 apiece in a Sydney trading session.
