Lifeway Foods, Inc. confirmed on November 15, 2024, that it received a revised, unsolicited, non-binding proposal from Danone North America PBC to acquire all outstanding shares of common stock of Lifeway it does not already own for $27.00 per share in cash. This represents an increase from Danone's initial offer of $25.00 per share.
According to a Schedule 13D amendment filed with the U.S. Securities and Exchange Commission, Danone beneficially owns approximately 23.3% of Lifeway's outstanding common stock. The Board of Directors will carefully review and evaluate this revised proposal in consultation with its independent outside advisors.
The company previously rejected Danone's initial $25.00 per share offer on November 5, 2024, stating it substantially undervalued Lifeway. This new, higher offer signals continued interest from Danone in acquiring the company.
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