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Treasury Wine Estates Limited (ASX:TWE) has revealed another takeover bid just one week after receiving a sweetened takeover offer from Kohlberg Kravis Roberts and Co and Rhone Capital.
While Australia’s largest listed winemaker says the new conditional proposal is from an anonymous private equity investor media reports have suggested TPG could be behind the bid.
The latest suitor is offering $5.20 cash per share through a scheme of arrangement. The offer compares to last week’s bid of $5.20 per share offered by the US led consortium.
Treasury Wine Estates plans to engage with both of its suitors while opening its books for due diligence but has affirmed there is no certainty any proposal will result in an offer.
Treasury Wine Estates reported a net profit of $107 million in the first half of the 2014 financial year.
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