Wall Street bankers are trying to drum up interest in Sara Lee Corp's (SLE.N) North American meat business, according to Smithfield Foods Inc (SFD.N), a potential suitor.
"I can't go more than three days at a time before I have a major New York bank or investment bank coming to us to say, 'Boy, we would love to represent you in a Sara Lee acquisition,'" said Smithfield Chief Financial Officer Bo Manly during a conference call with analysts on Thursday. "I don't think necessarily we'll have to go to the table. I think the table will come to us."
Sara Lee expects to spin off its international coffee and tea business this year and relocate it to the Netherlands, leaving Sara Lee as a North American company selling products including Jimmy Dean sausages and Hillshire Farm lunch meat.
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