Hostess Brands Inc.’s planned sales of most of its bread business shouldn’t be approved as currently structured because the buyers would be improperly released from liabilities and obligations to comply with environmental laws, the U.S. said.
U.S. Attorney Preet Bharara in Manhattan objected March 1 to agreements reached last week with Flowers Foods Inc., which is set to buy brands including Wonder for about $360 million, and Grupo Bimbo SAB, which plans to buy the Beefsteaks brand for about $31.9 million.
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