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Ding Dong of a deal

5 July 2016 By Robert Cyran

Hostess, indebted maker of the iconic snack cake, is going public in a deal with a SPAC run by Gores Group alongside investors Apollo and Metropoulos. At 10.4 times EBITDA, it’s a high price for a spiffed-up baker that went bankrupt twice due to changing consumer tastes.

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