J.M. Smucker Agrees to Acquire Hostess Brands for $5.6 Billion

J.M. Smucker is acquiring Hostess Brands, maker of Twinkies and other snacks, for $5.6 billion including debt.
The deal values Hostess at $34.25 per share, a significant premium over its previous stock price.
Hostess shareholders will receive $30 per share in cash and 0.03002 shares of Smucker stock for each Hostess share.
The acquisition continues a trend of consolidation among major food companies seeking growth.
Smucker aims to leverage Hostess's brands, distribution, and innovation to enhance its portfolio of consumer products.