Objections by European regulators forced Sara Lee Corp (SLE.N) to scale back its plan to sell it insecticides unit to SC Johnson, carving operations in the European Union out of the deal. Sara Lee said on Friday it will complete the sale of its insecticides businesses to S.C. Johnson & Son Inc in markets outside the European Union, such as Malaysia, Singapore, Kenya and Russia. EU regulators said in September that they would review the 153.5-million-euro offer after national regulators from six countries -- Belgium, Czech Republic, France, Greece, Italy and Spain -- asked for an examination into the deal's impact on their territories. At the time, the European Commission said normally the companies would only need to notify national regulators and not the European Union executive as the deal did not meet the EU's sales threshold. But six national regulators had referred the deal to the Commission.
Sara Lee Corporation (Sara Lee) is a global manufacturer and marketer of brand-name products for consumers throughout the world focused primarily on the meats, bakery, beverage and household products categories. Shares of SLE traded higher by 1.95% or $0.37/share to $19.3. In the past year, the shares have traded as low as $13.22 and as high as $20.26. On average, 7236390 shares of SLE exchange hands on a given day and today's volume is recorded at 2935547.
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