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Sunday, January 9, 2011

Apollo, others considering Sara Lee buyout-source, (NYSE: SLE)

A group of private equity firms including Apollo Global Management [APOLO.UL] is interested in a buyout of food and beverage company Sara Lee Corp (SLE.N), and has made an approach to the company, a source familiar with the situation said on Sunday. The Wall Street Journal earlier reported the news and said that the consortium also includes Bain Capital and TPG Capital [TPG.UL]. A leveraged buyout of Sara Lee, which has a market capitalization of $11 billion, would likely be the largest since the credit crisis.