The J.M. Smucker Company is buying Hostess in a cash-and-stock deal worth about $5.6 billion. Smucker’s will pay $34.25 per share in cash and stock, and also assume roughly $900 million in debt. To pay for the acquisition, which includes six Hostess manufacturing facilities, Smucker’s used on-hand cash, a bank loan and long-term public bonds. The boards of both companies unanimously approved the deal, which is expected to close next spring, during the third quarter of Smucker’s current fiscal year.
J.M. Smucker Company buying Hostess in cash-and-stock deal worth $5.6 billion
