---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-233050"
form_type: "8-K"
ticker: "SJM"
cik: "0000091419"
company_name: "J M SMUCKER Co"
filed_at: "2023-09-12T23:59:59+00:00"
generated_at: "2026-06-10T21:34:05.744439+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Smucker to acquire Hostess Brands for $34.25/share in cash and stock; $5.2B bridge loan

## Summary
- Per share consideration: $30 cash plus 0.03002 SJM shares (valued at $4.25 based on SJM close of $141.58 on 9/8/23).
- Hostess Brands board unanimously approved and recommends stockholders tender shares.
- Transaction subject to HSR, Canadian Competition Act clearance, and tender of at least a majority of Hostess shares.
- Smucker secured $5.2B 364-day bridge loan from Bank of America and RBC for the cash portion.
- Termination fee of $175M payable by Hostess if it accepts a superior proposal.

## SEC filing metadata
- accession: 0001193125-23-233050
- form_type: 8-K
- ticker: SJM
- cik: 0000091419
- company_name: J M SMUCKER Co
- filed_at: 2023-09-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91419/000119312523233050/0001193125-23-233050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91419/000119312523233050/d507779d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-233050
- JSON: https://secwatch.observer/filing/0001193125-23-233050.json
- Plain text: https://secwatch.observer/filing/0001193125-23-233050.txt

## Key facts
- Material Agreements
  J M SMUCKER Co entered into Agreement and Plan of Merger with Hostess Brands, Inc., SSF Holdings, Inc. (effective 2023-09-10).
  - Action: entry
  - Agreement: merger
  - Counterparty: Hostess Brands, Inc., SSF Holdings, Inc.
  - Effective: 2023-09-10
  source text: On September 10, 2023, The J. M. Smucker Company, an Ohio Corporation (the “Company”), entered into an Agreement and Plan of Merger, dated as of September 10, 2023 (the “Merger Agreement”), by and among the Company, Hostess Brands, Inc., a Delaware corporation (“Hostess Brands”), and SSF Holdings, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Purchaser”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/91419/000119312523233050/0001193125-23-233050-index.htm
- Material Agreements
  J M SMUCKER Co entered into a credit facility with Bank of America, N.A. and Royal Bank of Canada valued at $5.2 billion (effective 2023-09-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A. and Royal Bank of Canada
  - Value: $5.2 billion
  - Effective: 2023-09-10
  source text: In connection with its entry into the Merger Agreement, the Company obtained a commitment from Bank of America, N.A. and Royal Bank of Canada for a $5.2 billion 364-day senior unsecured bridge loan facility, subject to customary conditions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91419/000119312523233050/0001193125-23-233050-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.