August 3, 2014 / 11:00 PM / 3 years ago

Australia's Treasury Wine says KKR raises takeover offer

SYDNEY, Aug 4 (Reuters) - Australia’s Treasury Wine Estates said on Monday it had received a revised conditional takeover bid from Kohlberg Kravis Roberts & Co LP and Rhone Capital LLC and would grant the bidders access for due diligence.

Treasury said KKR had raised its bid by 10.6 percent to A$5.20 per share from the A$4.70 it offered in April, now valuing the world’s second-largest winemaker at A$3.38 billion ($3.15 billion).

Treasury shares closed at A$4.95 on Friday. ($1 = 1.0747 Australian Dollars) (Reporting by Lincoln Feast; Editing by Sandra Maler)

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