In a regulatory filing last night, Danone North America PBC (DANOY), which holds a 23.4% stake in Lifeway Foods (LWAY), disclosed that on September 23, Danone North America PBC sent a letter, proposing to acquire all of the outstanding shares of Lifeway common stock not currently held by the reporting persons for a purchase price of $25.00 per share in cash. “The transaction would be wholly funded in cash from existing cash reserves of the Reporting Persons and is not contingent on any financing requirements. The proposal is subject to the completion of due diligence and negotiation of definitive agreements… The Reporting Persons intend to engage in discussions with the Issuer regarding the Proposed Transaction,” the filing stated.
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