JBS backs away from Sara Lee banking on rebound in meat sales
JBS SA is betting on a rebound in U.S. meat sales, as a weak dollar makes production in the country as competitive as in emerging markets, reports Bloomberg. The company is also backing off its intentions to acquire Sara Lee, the company added.
The talks to acquire Sara Lee broke down earlier this year, as the company’s stock surged from $13 a share in September to over $18 now.