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Takeover bid could benefit Beringer Vineyards

August 06, 2014

Speculation on a possible sale increased Monday after Treasury Wine Estates announced that it received a revised offer of $5.20 (Australian) per share from Kohlberg Kravis Roberts (KKR) & Co. and Rhône Capital. The bid represented an 11 percent increase over an earlier offer that KKR made in April, which was rejected by Treasury Wine. The Australian company said it would negotiate further and allow the New York firms to conduct non-exclusive due diligence.