Sarah Lee, JBS Talks Hit Snag (SLE)

Shares of Sara Lee Corp

are dropping precipitously in pre-market, losing more than 3% after a report from Bloomberg said that talks between it and JBS have hit a speed bump over the price of the company. JBS is Brazil's largest food producer and the world's largest beef producer, and has been looking at Sarah Lee for a long time, but the talks have intensified over recent weeks as the company looks to figure out what it is going to do with itself, after recent turmoil. The report quoted two unnamed people with knowledge of the situation. Sarah Lee has been in flux since August, when its CEO Brenda Barnes had to step down due to a stroke. At last check, shares of SLE are off 46 cents to $16.80.