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Sara Lee Corp. Investor Investigation In Connection With Takeover rumors

  • If you purchased Sara Lee Corp. (NYSE:SLE) and currently continue to hold those SLE shares, and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Sara Lee Corporation
Security
NYSE: SLE

Summary

After rumors about a potential buyout of Sara Lee Corp hit the market an investigation on behalf of investors of Sara Lee Corp. (NYSE:SLE) over possible breaches of fiduciary duty was announced.

The investigation by a law firm concerns whether certain directors and officers at Sara Lee Corp. (NYSE:SLE) or others breached or will breach their fiduciary duties in connection with the takeover rumors and in the event of a buyout.

Earlier in 2010, Sara Lee's board of directors rebuffed an approach by private-equity firm Kohlberg Kravis Roberts & Co. But then on Dec. 17 2010 the Wall Street Journal said that Sara Lee Corp has become again a tempting takeover target. The Wall Street Journal said private equity firm Apollo Global Management and investor C. Dean Metropoulos have formed a group of investors to explore a buyout of Sara Lee Corp. Shares of Sara Lee Corp. rose on Dec. 20 $17.69 per share. Other news reports said Sara Lee is weighing whether to split its meats and coffee businesses into two separate companies. Then on Monday Jan 10, 2011 SLE shares rose to over $18.20 per share in response to the new takeover rumors and closed last Fridays trading at $18.70 per share. Analysts speculated Sara Lee could be looking for $20 per share.

Sara Lee Corp. reported over the past four filing periods relatively consistent 12month revenues. Sara Lee Corp. reported on June 30, 2007 $11.983billion, on June 28, 2008, $10.949billion, on June 27, 2009 $10.882billion, and on July 03, 2010, $10.793billion. Sara Lee Corp. reported on July 03, 2010 a Net Income of $506million.

The investigation concerns whether Sara Lee Corp. Board of Directors will undertake an adequate and fair sales process to obtain fair consideration for all shareholders of Sara Lee Corp. (NYSE:SLE) and will breach their fiduciary duties to Sara Lee (SLE) shareholder by failing to adequately shop the Company before entering into any transaction. A potential class action lawsuit would seek to maximize the amount of money and information SLE shareholders would receive in a buyout, so the law firm.

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