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Takeover target Treasury Wine Estates Limited (ASX:TWE) has scrapped all takeover talks with its suitors.
Australia’s largest listed winemaker scored a sweetened takeover bid of $5.20 per share from Kohlberg Kravis Roberts and Co and Rhone Capital in August.
The company also last month received a new conditional proposal of $5.20 cash per share from an anonymous private equity investor, reportedly understood to be TPG Capital.
After a period of due diligence Treasury Wine Estates has advised it is clear the bidders are not able to support a transaction on terms and at a price acceptable to the board.
Chairman Paul Rayner says the board is confident in the strategic plans to grow the company and year-to-date performance is tracking ahead of plan.
Treasury Wine Estates reported a net loss of $102 million in the 2014 financial year.
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