Hostess has requested that the U.S. Bankruptcy Court for the Southern District of New York authorize the company to proceed with an auction with the two Flowers (FLO) proposals as the stalking horse bids, provided the company receives additional qualified bids. If approved, the stalking horse bids will serve as the opening bids in the auction. The final sales will be made to the highest and best bidders at the auction, subject to court approval. Hostess has asked the court to order that the auction take place on February 28 and that a court hearing to authorize the sale to the highest or otherwise best bidders commence on March 5. The schedule and the Flowers proposals are subject to court approval. A hearing to consider approval of the bid procedures motions is scheduled for January 25.
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