Thursday, January 27, 2011

Sara Lee to split coffee, meat units

Sara Lee Corp (SLE.N) plans to split its meat and coffee businesses rather than sell the company as a whole, a source familiar with the situation said on Thursday.

The U.S.-based food and beverage company had been leaning toward a split after a private equity group led by Apollo Management LP APOLO.UL decided against further pursuit of Sara Lee after its bid of nearly $13 billion was rejected, a second source said.
Brazil's JBS SA (JBSS3.SA), the world's biggest meat company, meanwhile, had been struggling with financing to make a higher offer, the second source said.


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