J.M. Smucker to Buy Twinkies Maker Hostess for $4.6 Billion
J.M. Smucker is buying Twinkies owner Hostess Brands for around $4.6 billion, bringing together two big names in snacks.
Smucker said Monday that it will acquire Hostess for $34.25 a share in cash and stock. The deal also includes about $900 million in debt, which Smucker said brings the total value to $5.6 billion.
The news confirms an earlier report from The Wall Street Journal.