Bloomberg reported that a U.S. bankruptcy court judge approved Flowers Foods, McKee Foods, United States Bakery, Apollo Global Management and C. Dean Metropoulos as lead bidders for most of Hostess’s cake and bread brands, including Wonder Bread, Twinkies and Drake’s, setting the thresholds other suitors will have to exceed.

Bloomberg said a sale hearing, to approve the highest and best bids, is set for March 19.

To read the entire Bloomberg story, click here.

Previously on
Hostess Selects Stalking Horse Bid for Snack Cake Business, Thursday, January 31, 2013