Sara Lee. Apollo Global Management

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Jan. 24 at 6:01 a.m.
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Filed under: Food, M&A, Packaged foods

Sara Lee to weigh buyout offers this week

By Dow Jones Newswires-Wall Street Journal

Sara Lee Corp. will decide its future this week as it weighs offers from Brazilian beef processor JBS SA and a group led by private-equity firm Apollo Global Management LLC and investor C. Dean Metropoulos, people familiar with the matter said.

The private-equity group has submitted an offer for Sara Lee of between $18 and $19 a share and JBS, with the help of the Blackstone Group, has indicated it will bid soon, the people said. Apollo and Metropoulos, a Connecticut entrepreneur who acquired Pabst Brewing Co. last year, are leading a consortium that includes Bain Capital LLC and TPG Capital LP, the people said. Get the full story »

Jan. 20 at 3:34 p.m.
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Filed under: Food, M&A, Packaged foods

JBS is back in the hunt for Sara Lee, source says

By Reuters

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 »