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Tuesday, January 11, 2011

JBS may team up with funds for Sara Lee bid-source, (NYSE: SLE)

JBS, the world's top beef processor, could team up with a group of buyout firms as it seeks alternatives to win control of Sara Lee Corp (SLE.N), a source with knowledge of the plans told Reuters on Tuesday. Private equity firms have pursued Sao Paulo-based JBS (JBSS3.SA) since reports about a potential bid for Sara Lee arose late last year, the source said. No accord over a joint bid has been reached, said the source, who declined to be quoted by name because the talks remain private. (Reporting by Roberto Samora; Writing by Guillermo Parra-Bernal; Editing by Phil Berlowitz)