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Shares of Sara Lee (
SLE) closed up 7% at $14.40. The stock was buoyed today by reports that the company may have a buyout offer. Reports stated that KKR Inc. would like to acquire baked goods maker Sara Lee.
KKR has made a $12 billion dollar offer for Sara Lee. That's a pretty generous offer for a company that has struggled to find its way over the past decade. Sara Lee's current market cap is $9.8 billion dollars. The current offer is a 25% premium on its current market cap.
If KKR sweetens its offer a little bit, I think that Sara Lee management will be forced to sell. Longtime shareholders would probably be happy to get any kind of premium on their shares.
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