Sara Lee May Sell European Business: Report

Sara Lee (SLE Quote) is examining a sale of its European household and personal-care business as the company seeks to reverse a decline in its stock and focus on its core food and beverage business, the Wall Street Journal reports, citing people familiar with the matter.

The company has hired Goldman Sachs to seek possible bidders for the business, which could fetch more than $2 billion, these people said. It was unclear if any deal will occur, the Journal reports.

Sara Lee shares have fallen more than 40% in 2009 because of slowing global economic growth and the impact of the strong dollar on its international business. The stock closed at $7.27 on Thursday, giving the company a market value of about $5 billion, according to the Journal. ...