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Apollo Global Management LLC (NASDAQ:APO): Current Price $21.32
Hostess Brands Inc is close to selecting Apollo Global Management LLC (NASDAQ:APO) and C. Dean Metropoulos & Co. for the stalking horse bid valued over $400 million in the forthcoming bankruptcy auction off its Twinkie brand and other cakes. The bid could be bettered by other parties which include Flowers Foods Inc (NYSE:FLO), who has offered $360 million in cash for select Hostess bread brands, 20 plants and 38 depots. Another party, United States Bakery Inc is offering $28.85 billion for another group of bread brands, four bakeries, 14 depots plus equipment. In the event that their stalking horse bid is trumped by another bidder, Apollo Global Management and Metropoulos would get a breakup fee.
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