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FTI Consulting handles Hostess Brands as the marketer of Twinkies, Ding Dongs and Zingers agrees to be acquired by J.M. Smucker Co. in a deal worth $5.6B.
The $34.25 cash/stock transaction represents a 54 percent premium from Hostess’ closing stock price on Aug. 24, the day prior to news reports about the potential takeover.
Andy Callahan, Hostess CEO, said he’s proud of the team “for the legacy they created in building a premier snacking company and driving industry leading returns for our investors.”
Mark Smucker said his company is adding “an iconic sweet snacking platform, enhancing our ability to deliver brands consumer love and convenient solutions they desire.”
His Orrville, OH-based company markets Smucker’s jellies/jams, Jif peanut butter, Milk Bone dog treats, Meow Mix cat food and Folgers coffee.
FTI Consulting’s Pat Tucker, Brian Waldman and Kyla MacLennan represents Lenexa, KS-headquartered Hostess.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
