Lifeway Foods Rejects Danone's $27/Share Proposal; Calls Shareholder Agreement Void

Lifeway Foods, Inc.

Board unanimously rejects Danone's revised unsolicited proposal of $27.00 per share, saying it substantially undervalues the Company.
Lifeway asserts the 1999 Stockholders' Agreement with Danone is void and unenforceable under Illinois law.
Company requests Danone waive all rights under the Stockholders' Agreement; threatens litigation if not.
Lifeway reports 20th consecutive quarter of growth, double-digit revenue growth, and 788% total shareholder return over 5 years.
Danone holds ~23.4% of Lifeway shares and has used agreement to block equity compensation and strategic alternatives.

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