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Tuesday, November 17, 2009
S.C. Johnson Joins Sara Lee Bidding
By Darryl R. Isherwood
FOXBusiness
S.C. Johnson and Son Inc. is vying for Sara Lee Corp.’s (SLE) air freshener business, facing off against Proctor and Gamble Co. (PG), The Wall Street Journalreported Tuesday.
The unit, which produces Ambi Pur products, could command more than $700 million.
Sara Lee had hoped to sell off its entire household and personal care business together, but no buyer emerged.
The company officially put the operations on the auction block in March and hired Goldman Sachs Inc. (GS)
to help with the sale.
In September, Sara Lee sold its personal-care business to consumer-products company Unilever NV for about $1.9 billion.
Shares of Sara Lee rose 1.8% to $12.20.
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