Lifeway Foods rejected Danone's $283 million bid, citing it as undervalued, and enacted a shareholder rights plan.

Lifeway Foods, a US kefir manufacturer, rejected a $283 million takeover bid from Danone, deeming the $25 per share offer as undervalued. In response, Lifeway implemented a shareholder rights plan to prevent Danone from acquiring more than 20% of its stock without a premium. While Danone currently holds a 23.4% stake, Lifeway aims to focus on its strategic growth, having reported record sales of $160 million in 2023, a 13% increase from the previous year.

November 05, 2024
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