Treasury Wine attracts second suitor in takeover bid

Treasury Wine Estates has received its second takeover bid, this time from an unidentified global private equity investor.

AAP reports that the new bid matches the first offer by US-based KKR and Rhone Capital which values the company at $3.38 billion.

Treasury Wines have said that they will engage with both bidders, but there was no guarantee that either bid will translate to a formal offer for the company.

TWE said that the benefits of both offers will be weighed against the company’s renewed strategy to boost sales and cut costs following its performance last financial year.

As part of the company's new strategy, TWE announced last month that it will be expanding into the $US39 billion global travel retail market by securing shelf space at some of the world’s top airports, cruise liners and duty free shops.  

 

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