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Hostess Chooses Apollo, Metropoulos as Lead Bidder

Hostess Brands Inc., the bankrupt maker of Wonder bread, chose a joint offer from Apollo Global Management LLC and C. Dean Metropoulos & Co. as the lead bid for Twinkies and other cake brands.

Apollo and Metropoulos offered as much as $410 million for the Hostess snack-cake business, which also includes CupCakes, Ding Dongs and Ho Hos, and other assets, including five bakeries and equipment.