Hostess Brands Inc. Chief Executive Officer Greg Rayburn said that stalking-horse bids for assets of the bankrupt maker of Twinkies and Wonder bread now total $858 million, with about $100 million more for sale, Bloomberg News reported yesterday. Hostess, based in Irving, Texas, announced on Wednesday that it had chosen a joint offer from Apollo Global Management LLC and C. Dean Metropoulos & Co. as the lead bid for Twinkies and other cake brands in a March auction. Apollo and Metropoulos offered as much as $410 million for the Hostess snack-cake business, which also includes Dolly Madison brands, five bakeries and equipment. Leon Black’s Apollo, based in New York, managed $109.7 billion in assets as of Sept. 30.
