What's Going On With Lifeway Stock After Rejecting Revised Acquisition Offer From Danone? [Yahoo! Finance]
DANONE S/ADR (DANOY)
NASDAQ:AMEX Investor Relations:
danone.com/en/for-you/investors/investor-center/investor-relations-contacts
Company Research
Source: Yahoo! Finance
The proposal on November 15 offered $27.00 per share to acquire all of Lifeway's shares that Danone does not already own. After careful evaluation, including consultations with independent financial and legal advisors, the Lifeway Board determined that the offer significantly undervalued the company and was not in the best interests of Lifeway's shareholders or other stakeholders. According to a recent Schedule 13D amendment filing, Danone beneficially owns approximately 23.3% of Lifeway's outstanding common stock. On November 5, 2024, Lifeway announced that its Board had rejected Danone's initial unsolicited, non-binding proposal of $25.00 per share, citing that it substantially undervalued the company. Lifeway said it remains committed to its strategic plan of expanding its kefir offerings while also branching into adjacent product categories. Also Read: Target Q3 Earnings: Supply Chain Chaos Hits Bottomline, Slashes Annual Profit Outlook, Stock Tanks The company report
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