TWE) share price shoots over 8% higher on takeover talks

The Treasury Wine Estates Ltd (ASX:TWE) share price rocketed over 8% higher today before slightly retreating to be up 7.3%. The mouth-watering leap appears to be on the news of a potential takeover bid.

Earlier today, shares in the alcoholic beverage producer were trading as high as $11.15. The share price is currently sitting at $11.06. Yesterday, it closed at $10.31. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up only 1%.

Takeover rumours

According to a report in British publication This is Money (TIM), French drinks giant Pernod Ricard SA (EPA: RI) is champing at the bit to buy Treasury Wine. TIM is reporting the offer…