date:Jan 30, 2013
se agreement to acquire 20 baking plants, 38 depots and other assets for up to $360 million. Flowers also agreed to purchase the Beefsteak bread brand for $30 million.
In the final proposal, the break-up fee was amended to 3%, equating to $11.7 million, if another bidder prevails. The original plan called for a 3.5% fee.
In the period leading to the auction, Hostess and its advisors will coordinate bidders as they perform due diligence. Good faith deposits, to be held in escrow and equating t