TPG Capital has reportedly entered the bidding for Treasury Wine Estates (ASX: TWE), according to Bloomberg. The share price proposal of AU$5.20 ($4.85) matches last week’s revised bid from Kohlberg Kravis Roberts and Rhône Capital, and as a result, the Treasury Wine Board will allow TPG to conduct non-exclusive due diligence. The company boasts more than 80 brands of wine and a combined total of 11,000 hectares of vineyards. It sells 32 million cases of wine annually, earning revenues of about AU$1.7 billion ($1.57 billion). Treasury Wine’s share price peaked at over AU$6 ($5.56) in early 2013 but dropped to about AU$3.50 ($3.24) early this year, leading to takeover negotiations. Trading closed at AU$5.33 ($4.94) on Monday, up 3.9%.