J.M. Smucker gobbles up Twinkies maker Hostess Brands in Big Snack megamerger
Smucker, which makes everything from coffee to peanut butter and jelly, will pay $34.25 per share in cash and stock. It will also pick up $900 million in net debt.
Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J.M. Smucker in a cash-and-stock deal worth about $5.6 billion.
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