date:Feb 28, 2013
as made an opening bid of $31.9 million for the Beefsteak brand, challenging a $30 million stalking horse bid from Thomasville, Ga.-based Flowers Foods, Inc. Grupo Bimbos bid includes the $900,000 breakup fee promised to Flowers if it loses at auction, plus the $1 million incremental bid necessary to participate in the Feb. 28 bidding, the person familiar with the sale process told the W.S.J.
Meanwhile, the Associated Press cited sources indicating that no auction will take place for the bulk o