JBS planning to offer Sara Lee $21 a share: Report
An offer would pit JBS against Apollo Global Management LLC, Bain Capital LLC and TPG Capital. The private-equity firms’ bid was close to the $20 a share that Sara Lee’s board is seeking, a person with knowledge of the matter said Jan. 23. The board plans to meet this week to review the bids and to consider spinning off the company’s coffee business as an alternative to a sale, the person said.
Spokesmen for JBS and Sara Lee declined to comment.