Sara Lee Surges on Speculation a JBS Deal is Near

Sara Lee Corp. (SLE) shares spike to session highs on heavy volume.  Strength attributed to a Bloomberg report that says Brazilian beef processor JBS told Sara Lee Corp. that it plans to make a takeover offer of around $21 a share. According to Bberg, JBS is working with Blackstone Group LP (BX) on a bid.

Sara Lee shares were up, $1.22, or 6.81 percent, at $19.60 on the NYSE on Tuesday afternoon. The stock is experiencing huge volume; mid-way through the session SLE shares have already traded 29 million shares, well above the daily average volume of 6.4 million shares.

Create Content With AI

Risk Our Money Not Yours | Get 50% Off Any Account

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.