KPS Capital Cooks Up Bid To Buy Hostess

Law360, Los Angeles (May 11, 2012, 8:02 PM EDT) -- Private equity firm KPS Capital Partners LP is one of at least two bidders that have placed formal offers to purchase Hostess Brands Inc., offering a potential lifeline for the cakes maker as it struggles through a contentious bankruptcy, according to a Thursday news report.

The bids likely ranged between $500 million and $600 million, a New York Post report said, citing an anonymous source. Hostess, its lenders and unions are scheduled to discuss the proposal Monday with U.S. Bankruptcy Judge Robert D. Drain, who is...
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