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) --

Sara Lee

( 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


Bain Capital


TPG Capital.

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

Blackstone Group

-- 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

TheStreet Recommends

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

Flowers Foods

(FLO) - Get Flowers Foods, Inc. Report

shares are up 0.1% to $26.40.

-- Written by Andrea Tse in New York.

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>>Sara Lee May Split Meat, Coffee Units

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