TWE Swiftly Rejects Private Equity Takeover Bid

Dear Client:First it was just rumors about the US business, but now Treasury Wine Estates is fielding offers for the entire business. This week, the wine giant was offered a $2.85 billion takeover bid from private equity firm Kohlberg Kravis Roberts (KKR), but TWE rejected it for undervaluing its business, reports WSJ. "KKR is looking to split it up, clean up the U.S. business for an eventual trade buyer, who can benefit from synergies," says Will Seddon, a portfolio manager