Sara Lee Corp (SLE) reportedly rejected a $12 billion offer from Kohlberg Kravis Roberts, a prominent global private equity firm specializing in leveraged buyouts. While both companies are tight-lipped about the offer the New York Post reported that KKR bid six weeks ago and Sara Lee would not even allow KKR a look at its books. Sara Lee is still shopping for a $1 billion buyout of their bakery business.
Shares of SLE jumped over 11% on the open but are slowly fading in throughout early trade.
