Sara Lee Corp.'s stock rose 4.5% to $18.21 per share after a day of trading over new talk that the company is a takeover target.
Speculation was boosted by reports that a group of investors, including Apollo Global Management LLC and C. Dean Metropoulos, are considering an acquisition. According to the Wall Street Journal, the group has met with Sara Lee advisers to discuss a possible deal. Sara Lee previously turned down a bid from JBS SA; JBS executives will be in the U.S. this week in an attempt to renegotiate. Sara Lee's desired purchase price is unknown, but analysts believe that the number is likely somewhere around $13 billion ($20 per share). Sara Lee has also been considering its options for breaking up the company.
