Sara Lee's CEO Discusses Q3 2012 Results - Earnings Call Transcript
The D.E Master Blenders Investor Day, happening on March 13 and 14. Also there I think that's been completed, the strategy given and the guidance given. The SEC review, we filed the F1 on the 1st of March. I can say that all the SEC reviews and the process is going completely according to our plans, and we feel very comfortable. The debt rates for the Master Blenders, also that one is going according to plan. And we'll hope to announce something in the next couple of weeks in terms of the results of the debt rates.
So what are the critical days from now until -- as I -- as you've seen in the press release, June 30, which will be the day of the spin, so that as of July 1, both of the companies will be up and running. An important thing still to be done is the announcement of the boards. That will happen in the next couple of weeks. We will announce who will be in the boards of the Sara Lee current board members, as well as we will announce some new board members who will join both of the companies.
Investor meetings are going on. The Master Blenders on the road in May and June, and MeatCo as you have hopefully gotten the invitation will have its Investor Day by June 5. And then the following road shows are happening in June.
The special dividend will occur immediately after the spinoff. And the spin there, as I said before, we are saying the end of June, but be very specific, June 30 is the day we're all aiming for, so that over the weekend, July 1, we're up and running. So that's all about the spinoff. We feel very comfortable. I think we're really making sure that things are happening the way we want them to happen. And let me then take you through the Chief -- to Mark, who will take you through the financials. Mark?
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV