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Tuesday, February 8, 2011

Sara Lee says deal may still happen; shares up, (NYSE: SLE)

Don't tear Sara Lee Corp (SLE.N) down from atop that auction block just yet. The company has attracted takeover interest from enough parties that tax restrictions following its planned spin-off may not hinder a possible sale of the parts, according to its chief executive. That news cheered investors who thought the spin-off -- announced last month after Sara Lee failed to receive a satisfactory bid for the company as a whole -- meant that the parts would not be bought for as long as two years due to restrictions meant to preserve the tax-free nature of the spin-off.

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