Sara Lee Considering Sale to Brazil's JBS
Talks have been taking place intermittently for several months, Reuters reported without naming its sources. The companies have disagreed over the price of Sara Lee and it is not clear that they can reach a deal.
Sara Lee's stock closed at $17.26 a share on Friday, giving the company a market capitalization of $11 billion. JBS has a market value of about $10.5 million. JBS is the majority owner of U.S. chicken producer Pilgrim's Pride (PPC).
Earlier this year, Sara Lee sold off its North American bakery business to Mexico's Grupo Bimbo. That left it focusing on two areas with little overlap: North American meats and European coffee.
Sara Lee is also considering separating its meats and drinks businesses, Reuters said.