Hostess Brands surges after Reuters reports co exploring sale

Hostess Brands

25/08/2023 20:01

** Shares of Twinkies maker Hostess Brands  TWNK.O  rise
~25% to $27.58 in afternoon trade
    ** Co is exploring a sale after fielding takeover interest
from major snack food makers, people familiar with matter told
Reuters 
    ** General Mills  GIS.N , Mondelez International  MDLZ.O ,
PepsiCo  PEP.O  and Hershey  HSY.N  are among the companies that
have shown an interest in acquiring Hostess, as per the report
    ** Hostess is hiring investment bank Morgan Stanley  MS.N 
for advice on handling the deal negotiations, sources say
    ** TWNK declines to comment, while GIS, MDLZ, PEP, HSY and
MS did not immediately respond to requests for comment 
    ** Including session moves, stock up ~12% YTD

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth;))