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Burkle's Yucaipa Plans Bid For Makers Of Twinkies, Wonder Bread

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The International Brotherhood of Teamsters on Friday, Nov. 2, joined forces with Ronald Burkle's Yucaipa Cos. LLC and Bimbo Bakeries USA Inc. and have a plan for Yucaipa to buy bankrupt Interstate Bakeries Corp.

The trio didn't disclose a specific bid amount, though IBC characterized a $400 million exit financing commitment from Silver Point Finance LLC as a stalking-horse bid. Such verbiage, while a misnomer, shows that IBC views $400 million as a baseline for a bid. IBC, in fact, has requested an auction for alternative investment proposals to be held Dec. 13.

Read the whole story at The Deal