Critical Smolyansky investors back new Danone offer for Lifeway [Yahoo! Finance]
DANONE S/ADR (DANOY)
NASDAQ:AMEX Investor Relations:
danone.com/en/for-you/investors/investor-center/investor-relations-contacts
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Source: Yahoo! Finance
On Friday (15 November), Danone upped its bid to acquire the US dairy and kefir products maker after having an earlier offer rejected. In a statement to Just Drinks , Edward and Ludmila – the brother and mother of Lifeway chair, president and CEO Julie Smolyansky – said they “strongly support Danone's offer” as it “represents a substantial premium over Lifeway's recent share price”. Last week, the French giant sweetened its bid by offering approximately $27 per share to acquire the remaining shares in Lifeway it does not already own. At present, Danone holds about 23.4% of Lifeway's common shares. Danone made its fresh offer after Lifeway rejected an initial bid of $25 per share , arguing it “substantially undervalued” the business. The Activia maker said its new bid represented a 72% premium over the three-month volume-weighted average price of Lifeway's shares prior to the initial proposal on 23 September. In a letter to Julie Smolyansky published on Friday, Shane Grant,
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