Treasury Wine Estates (TWE) has received a takeover bid from an unnamed private equity investor within a week after Kohlberg Kravis Roberts (KKR) made a revised offer of $3.15bn.
The latest offer matches KKR's, valuing TWE at $5.20 per share.
TWE said in a statement that the 'global private equity investor' has requested to keep its identity confidential 'for a period of time'.
"The Board of TWE has concluded that it is in the interests of its shareholders to engage further with this private equity investor.
"The proposal is subject to due diligence and conditional on a number of other matters equivalent to the previously announced proposal."
KKR made an offer of $2.9bn in April but that was rejected by TWE as it undervalued the Australian wine company.
A revised bid was offered last week where per-share price was increased by $0.50 to $5.20.
The board said: "If an offer does result, the board will assess whether it delivers a value proposition that is superior to the expected benefits from management's renewed strategic plans."
TWE announced a change in its strategy in June, wherein it has decided to separate the management of its commercial brand portfolio in Australia from its Luxury & Masstige portfolio. It is also planning to bring in structural reforms and introduce major marketing initiatives in 2015.
According to the board, a buyout offer would be weighed based on the strategic plans that have already been made by the company.
