KKR Makes Revised Offer for Treasury Wine

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Aug. 4 (Bloomberg) –- Bloomberg’s Paul Allen reports on KKR and Rhone Capital making a revised A$3.4B offer for Treasury Wine. He speaks to Zeb Eckert on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

There is a rotten half revised bid for australia's treasury wine.

Paul, what is the latest on this offer?

Zeb, it is take two for kkr.

The bid is worth five dollars 20 -- it ias s worth $5.20. they have had a rough ride recently.

They're facing a 260 million in impairments.

A few months ago, they announced they had to dump about half a million cases of old wine in the united states due to over supply problems.

They're been cutting back exports as well.

This offer is a big improvement on the one made back in april, 11% higher than that april offer of $4.70 a share.

It is interesting, why was it not back tackle -- why was it knocked back?

A shareholder had knowledge of the deal, so they ended up having to go public.

If you take a look at the yearly price chart of treasury winds, you can see a couple pivotal moments where things happened.

Back in january, the impairment, business was not in full flow.

Things looked pretty dire.

And if you look at april, there's a big jump up third shares soared 18% after that initial takeover offer was revealed.

When the price open up over that offer, kkr is going to get a non-exclusive of the books.

That does not rule out anybody else attention to making a bid for this company.

The shares have opened again today, prices have spiked again.

This text has been automatically generated. It may not be 100% accurate.

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