Sara Lee considers sale to Brazil’s JBS: report

NEW YORK (BestGrowthStock) – Sara Lee Corp (SLE.N: ) is considering selling itself to Brazilian meat producer JBS (JBSS3.SA: ), the Wall Street Journal reported on its website on Friday, citing people familiar with the matter.

JBS approached Sara Lee, and discussions between the companies have been on and off over several months, the Journal reported, citing these sources. Sara Lee has been considering JBS’ offer more seriously lately, according to the Journal.

A Sara Lee spokesman said the company “does not comment on rumors or speculation.” JBS could not be reached.

No decision has been made, and Sara Lee may decide not to sell itself, the Journal reported, citing those sources.

Sara Lee is also considering whether to break up its meats and beverages businesses and putting them up for sale, the Journal said.

Sara Lee, whose brands include Hillshire Farms and Senseo coffee, has been functioning with an interim chief executive since August when Brenda Barnes quit after she suffered a stroke.

Based on Sara Lee’s stock closing price of $17.26 on Friday, the company has a market capitalization of $11 billion. The stock rose 5.3 percent on Friday, and fell 0.4 percent in after-market trading.

(Reporting by Phil Wahba and Martinne Geller. Editing by Richard Chang and Robert MacMillan)

Sara Lee considers sale to Brazil’s JBS: report