UPDATE 2-Sara Lee coffee unit has received overtures-CEO

Thu Sep 8, 2011 1:49pm EDT

* CEO says has received 'incoming calls'

* Pledges to be disciplined regarding any deal

* Shares up 0.3 percent (Adds more comments from Sara Lee, updates stock activity)

NEW YORK, Sept 8 (Reuters) - Sara Lee Corp (SLE.N) has received overtures from parties interested in its coffee business, its CEO said on Thursday.

"We've had some incoming calls," Chief Executive Officer Marcel Smits said during a presentation at a Barclays conference in Boston. He said the business, which includes Senseo coffee and Pickwick teas, was "a logical partner for other people to team up with."

Smits' presentation was broadcast over the Internet.

Sara Lee said in January that it would separate its coffee and tea unit from its North American meats business, which sells Jimmy Dean sausages and Hillshire Farm lunchmeat, after takeover bids were not enough to entice it to sell the whole company.

Smits has since said the spinoff plans did not prevent the company from accepting any other offer that might emerge.

Still, he stressed on Thursday that Sara Lee would be diligent when considering any deal.

"We'll look at that, but we'll be disciplined," Smits said. "We won't disappoint our shareholders."

Smits also discussed the timing of the split. He expects a ruling from the IRS on the tax consequences this fall, which would allow Sara Lee to finalize and implement each company's structure and management team by December.

He plans to host two investor days in February, when each team will present its strategy and financial forecasts. The separation would take place in the first half of 2012.

Sara Lee shares were up 0.3 percent at $17.80 in afternoon New York Stock Exchange trading. (Reporting by Martinne Geller; editing by John Wallace and Lisa Von Ahn)

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