date:May 23, 2014
Australian winemaker Treasury Wine Estates Limited (Treasury Wines) has rejected a takeover proposal of $4.70 cash per share from US-based global investment firm Kohlberg Kravis Roberts Co. L.P. (KKR), saying it does not properly value the Company.
While it owns 80 brands in total, the Penfolds wine brand is central to Treasury Wines operation as a premium winemaker.
The Penfolds brand was founded in Australia in 1844 by a young English doctor who migrated to Australia. Dr Christopher Rawson