Apollo gets closer to its first big food deal.
FORTUNE -- There are multiple reports that Hostess has picked Apollo Global Management and C. Dean Metropoulos as the "stalking horse" bidder for most of its snack unit, which would include Twinkies.
Word is that the firms were expecting formal notification last night, but that they're still confident it's on its way. For the uninitiated, "stalking horse" bids in bankruptcy procedures officially are just MORE