JBS in reported bid for Sara Lee Corp
Brazilian beef processor JBS has made a verbal buyout offer for Sara Lee Corp, sources for Bloomberg are reporting.
JBS informed Sara Lee of its intentions on Monday and plan to submit a formal offer later.
Sara Lee’s board is expected to consider an approach from JBS to buy the company for as much as $13.4bn and then to sell its European coffee business to Blackstone in a subsequent deal.
An offer would pit JBS against Apollo Global Management LLC, Bain Capital LLC and TPG Capital.