NEW YORK (AP) — The indestructible Twinkie appears to be one step closer to a comeback.

Hostess Brands is close to announcing that it has picked two investment firms — C. Dean Metropoulos & Co. and Apollo Global Management — as the lead bidders for its Twinkies and other snack cakes, according to a source close to the situation who was not authorized to comment publicly on the talks.

The joint "stalking horse" bid would set the floor for an auction process that lets competitors make better offers. A judge would have to approve any final sale.