It's true, Twinkies don't expire. The most famous of Hostess' brands appears to have two suitors. Time is reporting
that a source with knowledge of the snack-cake negotiations believes Hostess is set to announce that the two lead bidders are C. Dean Metropoulos & Co.
(the owner of Pabst Blue Ribbon and known for turning around the Chef Boyardee brand) and Apollo Global Management (a private equity firm with a history of taking brands like GNC and Caesars public).
The bids from the two investment firms would ostensibly create the floor for Twinkies' valuation. Other interested parties could then submit bids, and a judge would make the final determination for who walked away with the license to produce the cream-filled, yellow sponges. The Wall Street Journal suggested earlier this morning that the bids are for more than $400 million.