Australia's Treasury Wine gets rival $3.1B takeover bid from TPG Capital


Australia's Treasury Wine Estates (OTCPK:TSRYF) says it has received a new takeover approach from TPG Capital which matches the $3.1B bid from KKR and Rhone Capital.

The rival bid sparks the prospect of a bidding war over the winemaker.

TPG has already started due diligence on Treasury after reaching a decision to make an approach over the weekend.

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