Monterrey, Dec 13 - Mexico's Grupo Bimbo said on Thursday it will not bid for Interstate Bakeries Corp, the bankrupt baker of Wonder Bread and Hostess Twinkies, after reviewing the company's books.
The U.S. arm of Grupo Bimbo last month was granted access to IBC management, facilities and advisers to conduct due diligence and prepare a possible bid for the Kansas City-based company.
"Grupo Bimbo ... currently is not in a position to submit a bid for the purchase of Interstate Bakeries Corporation," the company said in a statement, without giving more details.