Sara Lee spinoff to distribute $4.6B in stock

By Efficient Alpha: By Joseph Hogue, CFA

By Dana Blankenhorn: One great early sign of normalcy in a market is the corporate spinoff. Spinoffs usually happen only when companies feel they can extract value by separating from a piece of themselves, that the two parts will be worth more than the whole. When values are collapsing, when fear rules the market, spinoffs become scarce.

DOWNERS GROVE, Ill. (AP) -- Sara Lee Corp. has named a Campbell Soup Co. executive to head up its North American retail and food service business, which is being split from the food maker's international coffee and tea business....

By Robert Broens: Sara Lee (SLE) rose 7% on the last trading day of the week after announcing its intention to divest its subsidiary DE International, which is known for its coffee and tea operations. The decision was made as pressure on the board of the company grew after two failed takeover attempts.

In preparation for a spinoff, Sara Lee Corp. named two operating chiefs to leads its international coffee and tea division. It also said the division will be renamed D.E.

Zacks.com submits: Sara Lee Corp. (SLE) reported strong operating income growth for the second quarter of fiscal 2011, driven by significant improvement in operating segment income across the company, particularly in the North American Retail and International Beverage business segments and lower corporate expenses.

By Brad Prigmore:Sara Lee Corporation (SLE) announced Tuesday that it has chosen Hillshire Brands Company as the new name for its North American business. The establishment of Sara Lee can be traced back to 1939 when Nathan Cummings acquired C.D. Kenny Company, a small wholesale distributor of sugar, coffee and tea in Baltimore, with net sales of $24 million.

By Robert Weinstein:Sara Lee Corp. (SLE) trades an average of 5.12 million shares per day, and has a market cap of $10.82 billion . It releases earnings Thursday. On average, 11 analysts are expecting $0.20 per share, a drop of $-0.04 in earnings per share compared with last quarter's results of $0.24. The company was founded in 1939 and is based in Downers Grove, Illinois.