US food group Sara Lee has commenced a cash tender offer for any and all of its notes due 2011.
The offer will expire at 5.00pm, New York City time, on 7 September, unless extended or terminated.
Go deeper with GlobalData
To be eligible to receive the total consideration for each US$1,000 in principal amount, holders of 6 ¼% notes must validly tender and not withdraw their notes prior to the expiration date.
Earlier this month Sara Lee booked an increase in full-year profits, driven by an “improved operating performance” across the company and despite a fall in sales.
For the 53 weeks to 3 July, Sara Lee earned US$506m compared to $364m in the prior year. Sales, however, slid to $10.8bn, down 0.8% on fiscal 2009.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
