---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-24-014861"
form_type: "8-K"
ticker: "LWAY"
cik: "0000814586"
company_name: "Lifeway Foods, Inc."
filed_at: "2024-11-20T23:59:59+00:00"
generated_at: "2026-05-29T22:14:55.834421+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001999371-24-014861
- form_type: 8-K
- ticker: LWAY
- cik: 0000814586
- company_name: Lifeway Foods, Inc.
- filed_at: 2024-11-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/814586/000199937124014861/0001999371-24-014861-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/814586/000199937124014861/lway-8k_112024.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-24-014861
- JSON: https://secwatch.observer/filing/0001999371-24-014861.json
- Plain text: https://secwatch.observer/filing/0001999371-24-014861.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.