Lifeway Foods, Inc. announced on November 20, 2024, that its Board of Directors rejected the revised unsolicited proposal made by Danone North America PBC on November 15, 2024. Danone's offer was to acquire all shares of Lifeway it does not already own for $27.00 per share.
After careful and thorough consideration, the Board, in consultation with its independent financial and legal advisors, determined that Danone's revised proposal substantially undervalues Lifeway. The company remains focused on executing its strategic plan to expand its market presence and product categories.
Lifeway highlighted its recent financial performance, including its 20th consecutive quarter of growth and improved profit margins in the third quarter of 2024. The Board is committed to building on this momentum to unlock additional shareholder value.
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