Law360, New York (November 20, 2012, 10:11 PM EST) -- Hostess Brands Inc. on Tuesday failed to reach a new labor agreement with its bakery workers union during mediation, an effort that was ordered Monday by a bankruptcy judge as a last-ditch attempt to save the company, just after a private equity firm said it wants to acquire Hostess' brands and assets.
Hostess said it would have no further comment until after a hearing Wednesday. A spokeswoman for the Bakery, Confectionery, Tobacco Workers and Grain Millers Union could not be immediately reached for comment Tuesday.
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