Treasury Wine Soars on Pernod’s Reported Interest in Assets
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Treasury Wine Estates Ltd. surged the most on record in Sydney trading after the Australian newspaper said Pernod Ricard SA is interested in buying its U.S. assets.
The stock jumped as much as 14 percent, the steepest gain since its May 2011 debut. Treasury pared some of the gain after saying it wasn’t in talks with Pernod and the shares were up 7 percent at A$4.11 at 1:18 p.m.