UPDATE: Sara Lee Still In Talks On Rest Of International Household Unit
05 November 2009 - 6:02PM
Dow Jones News
Sara Lee Corp. (SLE) said Thursday it remains in negotiations on
the sale of other parts of its international household
business.
In September, Sara Lee announced a binding offer from Unilever
(UN ULVR.LN) for its global body care and European detergents
businesses. Procter & Gamble Co. (PG) is interested in buying
part of Sara Lee's international household products unit, The Wall
Street Journal reported last month, citing people familiar with the
matter.
Sara Lee's fiscal first-quarter earnings rose 23.5% amid lower
costs as results exceeded analysts' expectations. The company is
cutting prices on some products like bakery goods. Chief Executive
Brenda Barnes said on a conference call that the foodservice
industry isn't showing signs of improvement as consumers continue
to avoid eating out
Sara Lee said it will use acquisitions to add its core
businesses, but that it has no desire to add back unrelated
categories to its business through deals.
-By Anjali Cordeiro, Dow Jones Newswires; 212-416-2200;
anjali.cordeiro@dowjones.com
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