Brazilian meat processor, JBS, is planning to offer a revised bid to buy the owner of meat and coffee businesses, Sara Lee, Bloomberg reports. In December 2010, JBS had offered about $11 billion to Sara Lee, which was rejected for being low.

JPMorgan Chase was appointed by JBS to act as advisor in the deal. Buyout firm Apollo Global Management, Bain Capital, TPG Capital and investor C Metropoulos are also considering offering a bid for Sara Lee, adds The Wall Street Journal.

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Click here for the additional coverage from The Wall Street Journal.