Sara Lee fireworks

Sara Lee Corp. Board of Directors approves a 1-for-5 reverse stock split immediately after the spin-off

Comment: Kind of complex but if I understand it correctly all will be happening the 1st week of July. To keep this simple (for my pea brain) suppose an investor has 100 shares of SLE
  • SLE will split off coffee business into new company called D.E MASTER BLENDERS 1753 (unsure of the stock symbol but it won't be DE because that is John Deere
  • SLE investors will receive a $3.00 special dividend per ahare (for for 100 shares = $ 300
  • Then SLE will do a reverse stock split and the 100 shares will be 20
  • And the new company name will be Hillshire Brands with a stock symbol of HSH

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