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S.C. Johnson Offers Remedies in EU Review of Sara Lee Deal
Dec. 6, 2010
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.
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