Week to date, shares of Hostess Brands (NASDAQ: TWNK) were up 18.8% as of 3:30 p.m. ET on Thursday , according to data provided by S&P Global Market Intelligence.

Earlier this week, J.M. Smucker agreed to acquire the maker of Twinkies for approximately $5.6 billion. The transaction value is a big premium for the owner of leading snack brands that has been posting steady sales growth this year.

The deal is expected to close in J.M. Smucker's fiscal third quarter ending in April. At that time, Hostess shareholders will receive $30 per share in cash and 0.03002 shares of J.M. Smucker stock for each share of Hostess.

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Source Fool.com