(BusinessSpectator) - Industry investors are predicting Chinese businesses are likely to lead the bidding for Australia's largest wine company, Treasury Wines Estates Ltd, with a price tag of up to $4.2 billion reportedly within reach, The Australian reports. According to the newspaper, Treasury, whose portfolio includes Penfolds, is now well positioned for a takeover offer, following an approach from United States private equity firm Cerberus Capital in 2010 - before it had completed its demerger from Foster's.