Shares of Hostess Brands jump as J.M. Smucker, the food company famous for jams and jellies, is nearing an acquisition of the Twinkies maker for about $4...
Shares of Hostess Brands the makers of Twinkies, jumped on Monday after it was reported that J.M. SmuckerCo. is about to buy it.
Smucker , the food company famous for jams and jellies, beat out competition against General Mills , the maker of Cheerios, to buy out Hostess for about $4 billion, The Wall Street Journal reported.A buyout would mark a dramatic recovery for Hostess, which has been through two Chapter 11 bankruptcies. The company returned to the stock market in 2016 after going private. Sales stopped $1.3 billion in 2022 and the stock price has more than doubled in the past five years.
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