Smucker (NYSE:SJM) is nearing a deal to buy Twinkies owner Hostess Brands (NASDAQ:TWNK), in a deal worth ~$4B that could be announced as soon as Monday, The Wall Street Journal reported Sunday. Smucker (SJM) prevailed in a heated competition with Cheerios and Betty Crocker parent General Mills (GIS), according to the report. Hostess (TWNK) shares have been rising in recent weeks on speculation of a potential takeover, and have more than doubled in the past five years, far outpacing the S&P 500 and other big food companies. Other Smucker (SJM) brands include Jif peanut butter, Folgers coffee, Milk-Bone dog treats, and Uncrustables frozen crustless sandwiches that recently have gained in popularity.

Source: Wall Street Journal September 11, 2023 07:21 UTC