How Treasury Wine defied the cynics

Treasury Wine Estate’s stock price is edging towards double the value it was when it rejected the $3.4 billion, or $5.20 a share, offer from KKR back in September 2014. The stock was trading around the $4.80 a share market and all the talk was KKR actually wanted to lower its price when the board formally rejected the bid. The company has more than delivered on expectations since then, helped in part by the falling Australian dollar which has boosted the value of exports of its top brands like Penfolds.