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Stock in Downers Grove-based Sara Lee Corp. took a dive Wednesday amid uncertainty about the company’s future. It closed down 5.7 percent, to $18.52.
Investors have been lifting the stock to 52-week highs since early December on reports that the company is likely to be broken up or sold. Get the full story »
Brazilian beef processor JBS has made a verbal buyout offer for Sara Lee Corp. and is expected to submit a written proposal in the coming day, two sources familiar with the situation said.
JBS made its verbal overture on Monday evening, the sources said. The terms of the offer were not immediately available. Get the full story »
A group of companies led by Brazilian beef processor JBS has arranged a financing package to bid for all or parts of Sara Lee Corp. , a source with direct knowledge of the situation told Reuters Thursday.
The group won commitments from international banks for loans and could tap equity markets to complete the funding package, said the source, who declined to be cited by name. Get the full story »
A leveraged buyout of Sara Lee could pave the way for Brazilian beef processor JBS SA to buy the U.S. company’s meat division, analysts at Bank of America Merrill Lynch said in a report Thursday. Get the full story »
JBS, the world’s top beef processor, could team up with a group of buyout firms as it seeks alternatives to win control of Sara Lee Corp., a source with knowledge of the plans told Reuters Tuesday.
Private equity firms have pursued Sao Paulo-based JBS since reports about a potential bid for Sara Lee arose late last year, the source said. No accord over a joint bid has been reached, said the source, who declined to be quoted by name because the talks remain private. Get the full story »
Sara Lee Corp. is moving ahead with plans to split up its meats and coffee businesses into two separate companies after it rejected Brazilian beef processor JBS SA’s takeover offer last month, people familiar with the matter said.
JBS hasn’t ruled out its interest in buying the company, which has a market capitalization of about $11 billion, and could yet come back with a higher offer, these people said. But they cautioned that JBS, which has a market cap of about $10 billion, could have trouble securing financing for a deal. Get the full story »
Sara Lee Corp. is considering selling itself to Brazilian meat producer JBS, the Wall Street Journal reported on its Web site, citing people familiar with the matter.
JBS approached Sara Lee first and discussions between the two companies have been on and off for several months, the Journal reported, citing these sources. Sara Lee has been considering JBS’s offer more seriously of late, according to the Journal. Get the full story »
