J.M. Smucker nears deal to buy Twinkies-owner Hostess Brands - WSJ (updated)

Hostess Brands

11/09/2023 04:08

(Adds share data and background in paragraphs 2-4)
       Sept 10 (Reuters) - Jif Peanut butter maker J.M. Smucker
 SJM.N  is nearing an agreement to buy Twinkies-owner Hostess
Brands  TWNK.O  in a deal that would likely be in the
neighborhood of $4 billion, the Wall Street Journal reported on
Sunday, citing sources.
    Hostess' shares have risen nearly 27% since Reuters reported
that the company was exploring a sale after fielding takeover
interest from major food makers.
    The company has a market capitalization of about $3.73
billion, according to LSEG Eikon data.
    Hostess became an acquisition target after it raised prices
on some of its products to boost revenue, fueling investor
concerns over its prospects. 
    Both Hostess and J.M. Smucker did not immediately respond to
Reuters' request for comments outside regular business hours.

 (Reporting by Dimpal Gulwani in Bengaluru; Editing by Rashmi
Aich)
 ((Dimpal.Gulwani@thomsonreuters.com;))