'Mum' is the word on JBS SA, Sara Lee rumor
December 20, 2010
by Meat&Poultry Staff
NEW YORK – On Dec. 17, Sara Lee Corp.'s shares surged after a report was published it is considering a sale to JBS SA, according to The Associated Press. The Wall Street Journal claimed people familiar with the matter said JBS approached Sara Lee with an offer and the talks have been off and on for several months.
Sara Lee has been considering JBS's offer more seriously in recent weeks, WJS claimed, though no decision has been made.
“We don’t comment on marketplace rumor or speculation,” a Sara Lee spokesman told MEATPOULTRY.com when asked about the rumor.
JBS has a market capitalization nearly equal to Sara Lee, which could make it challenging to assemble a full takeover offer. Sara Lee is in flux. The company's former CEO, Brenda Barnes, resigned in August, after suffering a stroke.