Seeking Alpha

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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