Sara Lee

A bidding war for Sara Lee is heating up. This weekend, buyout firms Apollo Management, TPG and Bain Capital submitted a joint bid for the maker of Jimmy Dean sausages, accord ing to reports. Mean while, Brazilian beef be hemoth JBS is said to be in talks to partner with Blackstone Group for a buyout of Sara Lee, which could fetch as much as $23 a share. The food conglomer ate’s shares closed at $18.70 on Friday.

SEC plea

An SEC said all stock brokers should be held to the same standards of conduct that govern in vestment advisers, put ting clients’ financial in terests above their own. SEC staff said retail in vestors “generally are not aware” that brokers and their firms are sub ject to a lesser legal standard than invest ment advisers.

Bear scare

A federal judge gave a boost to a shareholder class-action case against Bear Stearns and its out side auditor Deloitte & Touche, saying one of the biggest fraud suits from the financial crisis can move forward. Deloitte and JPMorgan Chase, which scooped up Bear Stearns at a bargain price, responded that the case was without merit.