The Remarkable Comeback of Hostess: Sale Values the Company at $5.6 Billion

The Stock’s Struggles

The stock had already fallen almost 11% this year.

A Turnaround Story

Hostess shares climbed about 19%. The sale caps a remarkable turnaround for the firm, which has undergone two Chapter 11 bankruptcies. Twinkies even vanished from store shelves at one point.

The Deal Details

The deal values Hostess at $34.25 a share. That equates to an enterprise value of about $5.6 billion, including $900 million of net debt.