date:May 26, 2014
Pernod Ricard SA and U.S. wine behemoth Constellation Brands had made separate approaches for its U.S. business.
Treasury Wine's shares have jumped since it disclosed the KKR bid, and on Friday the stock was trading at A$5.21 as of 05.00 GMT, up 5.5 percent and a 10 percent premium to the KKR offer.
Given that there's other potential buyers out there that may have a lower cost of capital (than KKR), I guess it's not inconceivable that someone comes out with a higher bid and that's what's got t