Danone raises takeover offer for kefir maker Lifeway Foods [Yahoo! Finance]
Lifeway Foods, Inc. (LWAY)
Last lifeway foods, inc. earnings: 5/18 05:59 pm
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US:NASDAQ Investor Relations:
lifewaykefir.com/investor-relations
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Source: Yahoo! Finance
The French giant, which is already a minority shareholder in Lifeway, has tabled an offer worth approximately $27 per share. Earlier this month, Lifeway rejected an initial offer of $25 per share, arguing the bid “substantially undervalued” the business. Danone said the new offer represents a 72% premium over the three-month volume-weighted average price of Lifeway's shares as of the last trading day before the Activia maker's initial proposal on 23 September. At present, Danone holds about 23.4% of Lifeway's common shares. In a statement, Lifeway said it had received the "revised, unsolicited, non-binding proposal" from Danone and would weigh up the new offer. In a letter published on Friday, Shane Grant, Danone's deputy CEO, wrote to Lifeway chair, president and CEO Julie Smolyansky in which he expressed “disappointment in the board's response to the initial proposal”. He said Danone believes that the sweetened offer “fully reflects the fundamental potential" of Lifeway
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News
- Lifeway Foods turns down latest Danone takeover bid [Yahoo! Finance]Yahoo! Finance
- Lifeway Foods® Announces Latest Innovation: Probiotic Smoothie + Collagen [Yahoo! Finance]Yahoo! Finance
- Lifeway Foods® Announces Latest Innovation: Probiotic Smoothie + CollagenPR Newswire
- LIFEWAY FOODS REJECTS REVISED UNSOLICITED PROPOSAL FROM DANONE [Yahoo! Finance]Yahoo! Finance
- LIFEWAY FOODS REJECTS REVISED UNSOLICITED PROPOSAL FROM DANONEPR Newswire
LWAY
Sec Filings
- 11/20/24 - Form 8-K/A
- 11/20/24 - Form 8-K
- 11/15/24 - Form SC
- LWAY's page on the SEC website