McKee Foods Makes Offer To Buy Drake's

NEW YORK -- Hostess has picked the maker of Little Debbie as the lead bidder to buy its Drake's cakes. According to a filing in U.S. bankruptcy court, McKee Foods has offered $27.5 million in cash for the cake brands, which include Devil Dogs, Funny Bones and Yodels. The fate of Twinkies and other Hostess cakes are still being negotiated with other bidders.