Reuters: Bankruptcy News: BRIEF-Hostess getting intense interest from prospective buyers of brands

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

BRIEF-Hostess getting intense interest from prospective buyers of brands Nov 21st 2012, 17:43 Wed Nov 21, 2012 12:43pm EST Nov 21 (Reuters) - Flowers Foods Inc : * Hostess brands inc lawyer says has received "a flood of inquiries" regarding its brands * Hostess lawyer says expects to find "stalking horse" bidders for some brands within a few weeks, with court-supervised auctions to follow * Hostess brands inc advisor says earlier this year received 6 bids for whole co but none of them was actionable * Hostess brands inc advisor says process started in summer to see if could sell individual brands to assist in funding to exit ch 11 * Hostess advisor says believes can sell the company for enough to recover debt and administrative claims * Hostess advisor says hostess has received over two dozen inbound calls in last 2-3 days * Hostess brands inc advisor says hostess could be worth $2.3-2.4 billion in normal bankruptcy, roughly equal to its annual revenue, but expects discount because plants have been closed * Hostess brands inc advisor says more than 50 parties have signed non-disclosure agreements * Hostess advisor says hostess has received calls from regional bakers, national competitors, customers, financial parties and consumer product companies, international buyers * Hostess advisor says has about 140 financial buyers it is calling * Hostess brands inc advisor says seeing "very intense competition" for brands: "these are iconic brands that people love." Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions