Lifeway Foods Rejects Danone’s Acquisition Proposal in Recent Board Announcement

Lifeway Foods, Inc. (NASDAQ: LWAY) made a significant announcement on November 26, 2024, addressing the recent unsolicited proposal from Danone North America PBC to acquire all shares of the company’s common stock that it does not already own for $27.00 per share. In response, Lifeway Foods’ board of directors (the “Board”) released a press statement rejecting Danone’s revised proposal, citing specific reasons behind this decision.

Additionally, on November 25, 2024, the Board’s counsel sent a letter to Danone’s legal representatives further elucidating their stance on the matter. The press release and the letter have been disclosed as Exhibits 99.1 and 99.2, respectively, in the most recent Current Report filed by Lifeway Foods to the Securities and Exchange Commission.

This rejection and subsequent disclosures shed light on the intricacies surrounding the proposed acquisition and how Lifeway Foods and its Board are strategically navigating this development. The rejection signifies a pivotal moment for the company, indicating a concerted effort to safeguard and prioritize the interests of all stakeholders amidst external acquisition interests.

The exhibited documents provide a deeper insight into the decision-making process and the rationale guiding Lifeway Foods’ strategic direction amidst the acquisition proposal. This move underscores the company’s commitment to sound governance practices and transparent communication with shareholders and the broader market.

For further details on this evolving development, interested parties can refer to the official filings on the SEC’s website or contact Lifeway Foods directly for additional information.

This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors are encouraged to conduct further research and consult with financial professionals before making any investment decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lifeway Foods’s 8K filing here.

About Lifeway Foods

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.