Deals
Hostess Says 2011 Liquidation Value Was $450 Million
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Hostess Brands Inc. was valued at $450 million in 2011, a company official told a bankruptcy judge, about half what a financial adviser estimated last week the maker of Twinkies and Wonder Bread was worth now.
The interim treasurer of the defunct baker, David Rush, provided the lower figure today to U.S. Bankruptcy Judge Robert Drain at a hearing in White Plains, New York. Last week, financial adviser Joshua Scherer of Perella Weinberg Partners LP said the sale of Hostess’s assets may generate about $1 billion.