Brazilian beef processor JBS (JBSS3.SA) has made a verbal buyout offer for Sara Lee Corp (SLE.N) and is expected to submit a written proposal in the next 24 hours, two sources familiar with the situation said. JBS made its verbal overture on Monday evening, the sources said. Bloomberg reported that JBS had indicated the offer would be around $21 a share. Private equity giant Blackstone Group (BX.N) is involved in JBS's pursuit of Sara Lee, a separate source said. Under one scenario, Blackstone would acquire Sara Lee's beverage unit if the Brazilian meat company's bid succeeds, the source said.
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