NEW YORK (
( SLE) has been offered a buyout price that tops the company's current share price of about $18.70, according to
The report says the offer of almost $20 a share comes from
Apollo Global Management
The Sara Lee board, for its part, is looking for an offer of $20 a share, says
Meanwhile, the Brazilian meat processor JBS SA, another interested buyer of Sara Lee, is considering sweetening its bid -- currently supported by
-- the report indicated.
Sara Lee's board is scheduled to meet on Jan. 27 to vet bids and also to discuss the possibility of spinning off its coffee business, said
Sara Lee's coffee business is considered to be one of its strongest assets.
Earlier this month, the
Wall Street Journal
reported that Sara Lee was drafting a plan to split its meats and coffee businesses into two separate companies, convinced that this action would make it easier for a potential buyer to make bids for the businesses independent of each other.
Sara Lee stock has risen 1.5% to $18.98 in morning trading. Related stocks are essentially flat.
Green Mountain Coffee Roasters
has inched up 0.1% to $34.51 and
shares are up 0.1% to $26.40.
-- Written by Andrea Tse in New York.
>To contact the writer of this article, click here:
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to:
>>Sara Lee May Split Meat, Coffee Units
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.