24/7 Wall St. recently looked at a number of large American companies, some of which are owned by foreign companies, to see which will disappear in 2011. It didn't take long to come up with a list of familiar names such as Sara Lee, Office Depot, Borders, E*Trade and five others.
Bidders may be lining up for Sara Lee as private equity firm Apollo assembles an investor group to explore a possible offer and Brazilian meat-processor JBS considers coming back with a better deal.
Sara Lee's sale of its North American Bakery business to Mexico's Grupo Bimbo is now fully baked. The company officially announced the deal today, saying it will allow Sara Lee to "aggressively invest in our core protein and coffee businesses."
Sara Lee reportedly is close to cutting a deal to sell its North American bakery business to Grupo Bimbo for a sticker price of $900 million to $1 billion.
Food giant Sara Lee saw its shares surge over 18% in premarket trading Monday after the New York Post reported the company turned down a $12 billion buyout offer from private-equity company KKR & Co.), citing unnamed sources.
Sara Lee CEO Brenda Barnes will step down permanently from her position as chairman and CEO officer to focus on improving her health. Barnes had been on temporary medical leave since May 14 after suffering a stroke.






