J.M. Smucker (SJM) is set to buy Hostess Brands (TWNK), which will bring together major brands in the snack business. Hostess notable brands include Twinkies, Ding Dongs, Zingers, and Ho Hos. The Smucker deal for Hostess is worth $5.6B. Jenny Horne weighs in on Chapter 11 issues and bankruptcies. General Mills (GIS) was outbid in the deal. Smucker has historically been known to acquire other brands.