Hostess Brands (TWNK) is exploring a sale after fielding takeover interest from major snack food makers, people familiar with the matter told Reuters’ Anirban Sen and Abigail Summerville. Hostess, which became an acquisition target after it raised prices on some of its products to boost revenue, has drawn interest from General Mills (GIS), Mondelez (MDLZ), PepsiCo (PEP) and Hershey (HSY), the sources said. Hostess has hired investment bank Morgan Stanley (MS) for advice on handling the deal negotiations, the sources said.
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