Downers Grove / IL. (slc) Sara Lee Corporation rebuffed a twelve billion USD unsolicited buyout offer from KKR + Co., according to media reports. Sara Lee had received the offer around six weeks ago, the reports said. Also, the reports added that the company is currently conducting a search to hire a permanent successor to its chief, Brenda Barnes; and aims to sell its bakery business for an estimated one billion USD. Following the completion of the above mentioned moves would allow Sara Lee to split its U.S. and international businesses or perhaps start an auction to sell itself. In the pre-market trading session, shares of Sara Lee were currently up more than 14 percent.
Related: Sara Lee may sell its bread business (b:eu on 2010-07-23).
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