Apollo Takes The Cake With $410M Twinkies Bid

Law360, New York (March 12, 2013, 1:19 PM EDT) -- The bankrupt Hostess Brands Inc. told a New York bankruptcy judge on Monday that it would sell its famed snack cake brands, including Twinkies, to Apollo Global Management LLC and C. Dean Metropoulos & Co. after no competing bidders emerged to best the groups’ $410 million offer.

Hostess told U.S. Bankruptcy Judge Robert Drain that Apollo and Metropoulos’ bid was the only qualified offer before yesterday’s deadline, meaning the company won’t be holding an auction for many of its premier Hostess Snacks brands, including Mini Muffins,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.