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Sara Lee Corp. has rejected a takeover offer valued between $18.70 and $20 a share from a private equity group led by Apollo Global Management LP, a source familiar with the situation said Wednesday.
Sara Lee has been weighing splitting up the company into separate meat and beverage units, or accepting a takeover offer. Sara Lee’s board was scheduled to meet Wednesday and Thursday to weigh its options, a source previously told Reuters. Get the full story »
Brazilian beef processor JBS has made a verbal buyout offer for Sara Lee Corp. and is expected to submit a written proposal in the coming day, two sources familiar with the situation said.
JBS made its verbal overture on Monday evening, the sources said. The terms of the offer were not immediately available. Get the full story »
Clothing retailer J. Crew Group Inc. is set to settle a shareholder lawsuit over its proposed takeover by private equity firms TPG Capital and Leonard Green & Partners LP.
A $2.86 billion deal to acquire J. Crew was announced on Nov. 23, with TPG Group and Leonard Green & Partners LP agreeing to buy the company for $43.50 a share, a premium of about 15 percent. Get the full story »
Private-equity firm Apollo Global Management LLC and investor C. Dean Metropoulos have formed a group of investors to explore a purchase of Sara Lee Corp., people familiar with the matter said.
Apollo and Metropoulos, a Connecticut entrepreneur who acquired Pabst Brewing Co. last year, are leading a consortium that includes Bain Capital LLC and TPG Capital LP, the people said. Get the full story »
Sears Holdings Corp. and Urban Outfitters Inc. are examining the financial books of J. Crew Group Inc. in consideration of possible bids for the clothing retailer, a source familiar with the situation said Wednesday.
J. Crew, which also operates a website and catalog, has already agreed to be acquired by TPG Capital LP and Leonard Green & Partners LP for $2.86 billion. It can solicit other bids until Jan. 15.
Neither Sears nor Urban Outfitters has indicated whether it would submit a bid to compete with TPG and Leonard Green’s $43.50 per share offer, the source said. Get the full story »
