THE company behind wine labels including Penfolds and Lindeman's says it has not been approached by liquor giant Pernod Ricard about a possible takeover of its US assets, despite reports of its interest in a deal.
The head of Pernod Ricard, which owns many liquor brands including Jacob's Creek wines, has told media the company would be interested in buying the US assets of Treasury Wine Estates.
That has sent Treasury Wine shares soaring, gaining as much as 11 per cent in morning trade on Friday.
Treasury's US business has been a weight on the business in recent times, with oversupply leading to the disposal of more than $35 million worth of wine in 2013.
The company's recently appointed chief executive, Michael Clarke, said in early April that he had no emotional attachment to any part of the business, with the exception of Penfolds.
On Friday, Treasury Wine said it had not been approached by, and was not in discussions with, Pernod Ricard.
At Friday's close of trade, Treasury Wine shares were up 25 cents, or 6.51 per cent, at $4.09.
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