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Twinkie defense! Hostess, union agree to mediation, preventing shutdown: report

Posted: 4:06 PM, Nov 19, 2012
Updated: 2012-11-22 14:25:54-05

The Bakers Union and Hostess have agreed to mediation, raising hopes that the Twinkie might be saved.

Reports of the Twinkie’s demise may have been exaggerated,

The Bakers Union and Hostess have agreed to mediation, reports CNBC. That means production of the all-American treat has not been suspended, the network reports.

Judge Robert Drain of the U.S. Bankruptcy Court in White Plains pushed mediation at a hearing where Hostess was seeking permission to liquidate its assets. The closure has imperiled 18,500 jobs.

Mediation will begin on Tuesday and the court hearing has been postponed to Wednesday, Reuters reports.

Hostess carries an iconic line of products, including Twinkies, Ho Hos, Wonder Bread and other brands.

More developments soon.