Speculation on Treasury Buyout Put to Bed

China's Bright Food Group is denying reports that it is considering making an offer for Treasury Wine Estates. Bloomberg originally ran the story on Friday, citing "two people familiar with the matter." Although a Bright Foods spokesman said the company is "considering Australian wine assets for acquisition," he declined to name any companies being looked at. Recall that Treasury declined an offer worth as much as $2.5 billion last year from a private equity group (some believe Cerberus Capital). Not until yesterday (July 1) did a Bright Foods spokesperson tell Dow Jones that the group had not "considered any plans to buy it." A spokesperson also told Reuters that Bright has "no Australian wine acquisitions in the works."

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