Lifeway Foods Rejects Danone North America's Takeover Offer, Implements Shareholder Rights Plan-March 2024-www.financetom.com

Lifeway Foods Rejects Danone North America's Takeover Offer, Implements Shareholder Rights Plan

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Lifeway Foods Rejects Danone North America's Takeover Offer, Implements Shareholder Rights Plan

Nov 5, 2024 8:02 AM

10:38 AM EST, 11/05/2024 (MT Newswires) -- Lifeway Foods ( LWAY ) said Tuesday its board has rejected an unsolicited offer from Danone North America PBC to buy the remaining shares of Lifeway it does not already own for $25 each.

The board has implemented a limited-duration shareholder rights plan, effective immediately, in response to the proposal, the company said.

Lifeway Foods ( LWAY ) said the board concluded that Danone's offer significantly undervalues the company.

The rights are set to expire on Nov. 4, 2025, unless redeemed, terminated, or exchanged earlier, the company added.

Price: 24.55, Change: -0.20, Percent Change: -0.83

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