S.C. Johnson Offers Remedies in EU Review of Sara Lee Deal
Stock Chart for Hillshire Brands Co (SLE)
S.C. Johnson & Son Inc. offered antitrust remedies in an attempt to win European Union approval for its plan to acquire Sara Lee Corp.’s insecticide business.
The European Commission extended its deadline to rule on the 153.5 million-euro ($202.4 million) deal to Dec. 22, according to its website today. It didn’t specify the remedies offered by S.C. Johnson, the closely held maker of Ziploc bags and Windex glass cleaner.
Sara Lee, based in Downers Grove, Illinois, agreed to the insecticide deal in June, as the maker of Jimmy Dean foods and Hillshire Farm meat continues to sell units unrelated to its food and beverage business.
“We remain confident a satisfactory solution will be found and the deal can close by the end of the year,” Ernesto Duran, a spokesman for Sara Lee, said in an e-mail. S.C. Johnson, based in Racine, Wisconsin, declined to comment.
To contact the reporter on this story: Aoife White in Brussels at email@example.com.
To contact the editor responsible for this story: Anthony Aarons at firstname.lastname@example.org.
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.