Meat processor JBS has reportedly made a verbal buyout offer for Sara Lee and is expected to submit a written proposal in the next 24 hours, according to sources.

JBS made its offer on Monday evening, Reuters reported, citing two unnamed sources. Bloomberg reported that JBS had indicated that the offer would be around US$21 a share.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Private-equity firm Blackstone Group is reportedly involved in JBS’ pursuit of Sara Lee, and in one scenario, Blackstone would acquire Sara Lee’s beverage unit if the Brazilian meat company’s bid succeeds.

A private-equity consortium led by Apollo Global Management with Bain Capital and TPG have also reportedly made a $20 a share bid for the manufacturer, while KKR has also been linked to a possible bid for Sara Lee.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now