By James Atkinson

An undisclosed private equity firm has matched the KKR and Rhone offer to acquire all of the shares of Treasury Wine Estates (TWE).

TWE said the matching $5.20 a share deal proposal had been received from a global private equity investor "who has requested that its identity remain confidential for a period of time".

It is subject to due diligence and conditional on the same matters applicable to the previously announced proposal.

"The board of TWE reiterates that there is no certainty that any proposal will result in an offer for the company," TWE said.

TWE reaffirmed that if an offer does result, the board will assess whether it delivers a value proposition that is superior to the expected benefits from the new strategy announced by CEO Mike Clarke.

The Shout Team

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