JM Smucker expected to acquire Hostess

Jelly giant J.M. Smucker is reportedly close to closing a deal to acquire bakery company Hostess Brands, reported the Wall Street Journal.

General Mills was purportedly previously in contention to buy Hostess.

The deal is expected to be valued around $4 billion.

Sources familiar with the deal said the two parties could announce the sale as soon as Monday.