Hostess Picks Lead Bidders for Twinkies

Hostess has picked a lead bid for its famous Twinkies. The bankrupt company said late Wednesday that it has selected a joint offer from two investment firms — Metropoulos & Co. and Apollo Global Management LLC — as the lead bid for its Twinkies and other snack cakes. Hostess says the two are teaming to on $410 million bid for the snack-cake business and five bakeries. The "stalking horse" bid would set the floor for an auction process that lets competitors make better offers. A...Full Story
Commenting on this article is closed.