Dearth of buyers for Hostess Twinkies

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Tuesday, March 12, 2013

Salon.com: Hostess is moving ahead with plans to sell its famous snack cakes after nobody stepped forward to top an offer made by two investment firms.

The bankrupt company had earlier picked a $410 million joint offer from Metropoulos & Co. and Apollo Global Management as the “stalking horse” bid to set the floor for an auction. Others were then given a chance to submit competing bids and Hostess CEO Greg Rayburn had predicted the process would be “wild and wooly.”

 

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