Illinois-based Sara Lee is weighing a split of its meats and coffee businesses into two separate companies, The Wall Street Journal reports. The move comes after the company did not receive any take over offer from the Brazilian beef processor, JBS, which has a market capitalization of about $10 billion.
Sara Lee is dividing itself as its interested buyers may face trouble in arranging the financing for the company, which has a market capitalization of about $11 billion. Sara Lee’s coffee business generated $3 billion in revenue, while its meats business had $346 million in income from continuing operations on $2.82 billion in sales.
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