Treasury rejects KKR takeover offer

20 May, 2014

Treasury Wine Estates has rejected an AUS$3.05 billion (US$2.85 billion) takeover bid from Kohlberg Kravis Roberts & Co (KKR).

The US private equity firm offered A$4.70 per Treasury share, representing a 15% premium to its closing price Monday of A$4.07.

News of the bid sent shares in Treasury, the owner and producer of the iconic Penfolds brand best known for its Grange blend and premium Californian brand, Beringer brand, up 19% and above the offer price.





Digital Edition

Drinks International digital edition is available ahead of the printed magazine. Don’t miss out, make sure you subscribe today to access the digital edition and all archived editions of Drinks International as part of your subscription.

Comment

Nick Strangeway

Bar food's blurred lines

Once upon a time pubs and bars were somewhere you went with the sole purpose of getting pissed and there wasn’t a knife and fork in sight, just a packet of dry roasted nuts.

Instagram

Facebook