Lifeway rejects Danone's revised $27.00/share proposal; declares 1999 stockholder agreement void

Lifeway Foods, Inc.

Lifeway's Board rejected Danone's revised unsolicited proposal to acquire all shares not already owned for $27.00/share, calling it substantially undervalued.
The company posted its 20th consecutive quarter of double-digit revenue growth and improved margins in Q3 2024.
Lifeway's CEO sent a letter to Danone detailing how the 1999 Stockholders' Agreement has restricted the company's ability to issue equity, pursue strategic alternatives, and compete.
Lifeway's counsel asserted the Stockholders' Agreement is void under Illinois law for lack of unanimous approval and anti-competitive effects, demanding waiver by Nov 15.
The Board adopted a limited-duration shareholder rights plan in response to Danone's proposal.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.