Lifeway Foods Rejects Danone Offer

U.S. kefir maker Lifeway Foods has rejected Danone's latest takeover bid, believing it significantly undervalues ​​its value.

The offer, up from $307 million ($27 per share) in September to $283 million, was rejected. Danone, which already owns 25% of Lifeway, said the offer represents a 23,3% premium to the three-month weighted average share price before the initial proposal.

Lifeway said the offer is not aligned with the interests of the company, its shareholders and stakeholders. The company remains focused on expanding kefir to a broader audience and exploring related product categories.