Reports have suggested that the Canadian wine company Vincor International Inc., currently the subject of a hostile takeover bid by Constellation Brands, is in talks with at least five prospective bidders. According to the reports, the company could make an announcement relating to a possible counter-bid this week.

Having rejected Constellation's C$1.4bn bid last week, Vincor has posted a new investor presentation on its website to invite more bidders to come forward, and has engaged two investment banks, Merrill Lynch and BMO Nesbitt Burns, to look for other buyers.

Constellation Brands confirmed on Friday that it was not one of the companies currently in talks with Vincor.

Vincor and Constellation are at odds over the valuation of the company. Constellation has bid C$31 per share, a premium of about 39% over its closing share price of 8 September, and said it might go higher if Vincor can justify increasing the offer. But Constellation's CEO, Richard Sands, said it would not go as high as C$36 per share.

However, Vincor's latest investor presentation suggests Constellation can afford to pay between C$37.87 and C$41.20 per share, or even as much as C$80.13 once synergies are taken into account.

A host of other names have been linked with Vincor including Foster's, Diageo, the French company Castel Freres and Gallo.