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Lifeway Foods ( (LWAY) ) has provided an announcement.
Lifeway Foods’ board rejected Danone’s proposal to acquire remaining shares for $25 each, deeming it undervalued. In response, Lifeway adopted a shareholder rights plan to prevent Danone from gaining control without paying a premium. This plan allows existing shareholders to buy more stock if someone acquires 20% or more of Lifeway’s shares, safeguarding shareholder value while not deterring fair offers.
Learn more about LWAY stock on TipRanks’ Stock Analysis page.