Danone bids to take full control of US kefir maker Lifeway Foods [Yahoo! Finance]
Lifeway Foods, Inc. (LWAY)
Last lifeway foods, inc. earnings: 5/18 05:59 pm
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lifewaykefir.com/investor-relations
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Source: Yahoo! Finance
The Alpro and Activia brands owner is a long-time shareholder in Lifeway, holding a 23.4% stake in the business, but it has now made an official bid to take full control. The offer was confirmed in a filing to the US regulator, the Securities and Exchange Commission (SEC), from Lifeway yesterday (23 September). It said: “On September 23, 2024, Danone North America PBC sent a letter to the issuer, proposing to acquire all of the outstanding shares of common stock not currently held by the reporting persons for a purchase price of $25.00 per share in cash.” Lifeway said the transaction would be fully funded in cash from Danone's existing reserves. The $25-per-share offer is a significant 59% premium to $15.74, Lifeway's average price during the last three months. However, Lifeway's stock closed Monday at $21.50 a share, giving it a market capitalisation of $318m. At $25 a share, it is estimated Danone will have to pay around $283m to buy the business outright. In its letter
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LWAY
Sec Filings
- 9/23/24 - Form SC
- 9/4/24 - Form 4
- 9/4/24 - Form 4
- LWAY's page on the SEC website