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Stock impact report

Lifeway Foods hits back at Danone lawsuit linked to shareholder agreement [Yahoo! Finance]

Lifeway Foods, Inc. (LWAY) 
Last lifeway foods, inc. earnings: 5/18 05:59 pm Check Earnings Report
US:NASDAQ Investor Relations: lifewaykefir.com/investor-relations
Company Research Source: Yahoo! Finance
In reaction to the legal claim, filed in the Cook County Court in Illinois this week, the US-headquartered kefir drinks maker has accused Paris-based Danone of pursing a “hostile takeover” of the business, at a price that “undervalues the company". The latest actions by both companies prolongs a dispute dating back to last year, when Danone instigated a bid in September to acquire all of the shares in Lifeway Foods, having taken around a 23% stake in 1999. That bid triggered months of wrangling, with Lifeway Foods first rejecting the offer in November claiming it undervalued the company. Danone then put in a higher bid only to be turned down again by the kefir beverages manufacturer. As Lifeway Foods and Danone battle it out, a family feud continues to fester at the US firm, between its chair and CEO Julie Smolyansky, and her mother and brother, Ludmila and Edward Smolyansky, the company's largest shareholders. The latest gripe from Danone centres on a decision by Lifeway Foo Show less Read more
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