Source:  Tom Johnston, MEATINGPLACE.COM, 1/24/11

Sara Lee Corp. will decide this week whether to accept buyout offers from either JBS S.A. or a private-equity firm, according to a report by the Wall Street Journal, quoting “people familiar with the matter.”
A group led by Apollo Global Management LLC and investor C. Dean Metropoulos has made an offer of between $18 and $19 per share. JBS, assisted by financial services firm the Blackstone Group, is set to submit a bid soon, the sources told WSJ.

Sara Lee will weigh the offers against splitting into separate companies its meats and coffee businesses, the sources told WSJ. The Downers Grove, Ill.-based company’s board plans to meet later this week to discuss options.

An earlier story by Reuters reported that JBS has arranged financing to bid for the whole of Sara Lee. 

JBS reportedly had submitted an offer of $17.50 per share, which was rejected by Sara Lee as too low. Analysts say Sara Lee is looking for more like $20 per share.

JBS officials have declined to comment on the proceedings.

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