Entrepreneur Dean Metropoulos and private equity firm Apollo Global Management Inc returned Hostess to the stock market in 2016 through a deal with a special purpose acquisition company backed by the private equity firm founded by Alec Gores.
The Latest SPAC News and Rumors: August 28, 2023
by Marlena Haddad on 2023-08-28 at 11:38am
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hostess Brands explores sale amid takeover interest, and Oklo and Centrus Energy sign MOU to support deployment of advanced fission technologies in Ohio
Twinkies maker Hostess Brands explores sale amid takeover interest, sources say
Hostess Brands Inc (NASDAQ:TWNK), the maker of Twinkies snack cakes, is exploring a sale after fielding takeover interest from major snack food makers, people familiar with the matter said on Friday.
Hostess became an acquisition target after it raised prices on some of its products to boost revenue, fueling investor concerns over its prospects. Prior to the news of the company exploring a sale, its shares were down 1% year-to-date, versus a 29% rise in the Nasdaq Composite Index.
Oklo and Centrus Energy Sign Memorandum of Understanding for Fuel, Components, and Power Procurement to Support the Deployment of Advanced Fission Technologies in Southern Ohio
Oklo Inc. and Centrus Energy Corp. (NYSE American: LEU) today announced a new Memorandum of Understanding (“MOU”) between the two companies to support the deployment of Oklo’s advanced fission powerhouses and advanced nuclear fuel production in Southern Ohio, making the region a critical hub for the future of the U.S. nuclear industry. Oklo and Centrus have been partners since 2021 when the companies signed a Letter of Intent to cooperate in the development of a High-Assay, Low-Enriched Uranium (“HALEU”) fuel facility.
With this new MOU, Oklo and Centrus plan to enter into a broad range of collaboration programs supporting the development and operation of Oklo’s Aurora powerhouses including supply of HALEU produced by Centrus at its Piketon, Ohio, facility. Centrus also intends to buy clean, reliable, and affordable energy from Oklo’s planned Ohio plants to power its HALEU Production Facility.
On July 11, 2023, Oklo and AltC Acquisition Corp. (NYSE: ALCC) announced that they have entered into a definitive business combination agreement.
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