Hostess Draws Over Two-Dozen Bidders in Asset Sale (KR) (WMT)
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Kroger (NYSE: KR) and Wal-mart (NYSE: WMT) are said to be two of many firms in discussions to acquire the venerable Hostess Brands Inc., amid bankruptcy proceedings for the maker of Ding-Dongs and Wonder Bread.
About two-dozen firms have shown interest, Bloomberg said this afternoon, citing people familiar with the matter. Some bidders want all of the assets, while others would be happy with a by-pieces purchase.
One Perella Weinberg adviser said Hostess might draw about $1 billion for all the assets.
Last month, Hostess filed for bankruptcy following a strike by unionized workers. The company has previously spent 4.5 years conducting a restructuring, which completed in 2009.
Kroger and Wal-mart are mixed on the session.
About two-dozen firms have shown interest, Bloomberg said this afternoon, citing people familiar with the matter. Some bidders want all of the assets, while others would be happy with a by-pieces purchase.
One Perella Weinberg adviser said Hostess might draw about $1 billion for all the assets.
Last month, Hostess filed for bankruptcy following a strike by unionized workers. The company has previously spent 4.5 years conducting a restructuring, which completed in 2009.
Kroger and Wal-mart are mixed on the session.
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