Sara Lee Shares Rises Amid Takeover Talk

Monday, 10 Jan 2011 09:43 AM

 

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Shares of Sara Lee Corp. rose more than 2.5 percent Monday on reports that a group of private equity firms is interested in a buyout of the coffee and meat company.

A group of firms, including Apollo Global Management, is interested in a buyout of the company, a source familiar with the situation said on Sunday.

The Wall Street Journal said the consortium has met in recent weeks with Sara Lee's financial advisers to talk about a deal.

Investor C. Dean Metropoulos, who is an operating partner of Apollo, is also involved, the paper said.

Sara Lee and the private equity firms were not immediately available for a comment.

Bloomberg also reported on Sunday that Brazilian meat producer JBS is considering making another takeover offer for Sara Lee and its executives are traveling to the U.S. this week.

Sara Lee had been in talks to sell itself to JBS but the pair was at odds over price, a source previously told Reuters.

The company has also been considering options such as separating its meats and drinks businesses, a source familiar with the matter previously told Reuters.

Sara Lee shares were up 55 cents at $17.98 on Monday on the New York Stock Exchange.

© 2014 Thomson/Reuters. All rights reserved.

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