Australia's Treasury Wine jumps on KKR bid
SYDNEY May 20 (Reuters) - Shares in Australia's Treasury Wine Estates jumped as much as 20 percent on Tuesday after the world's second-largest winemaker by sales rejected a $2.9 billion bid by KKR and Co LP as too low.
Treasury shares traded as high as A$4.88, topping the A$4.70 per share offer it rubuffed from KKR. (Reporting by Lincoln Feast; Editing by Anand Basu)
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