Investors will get $34.25 in cash and stock for each Hostess Brands share, according to a statement on Monday. The price represents a 22% premium to Hostess’ closing price on Sept. 8.
Shares of Hostess Brands have surged more than 26% since before Aug. 25, when Reuters reported the company was exploring a sale after fielding takeover interest from major snack food makers. The firm had a market value of about $3.7 billion as of the end of last week.
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