Lake Street notes that Lifeway Foods’ (LWAY) largest shareholder, French dairy “powerhouse” Danone (DANOY), with 23% shares proposed an all-cash acquisition at $25 per share, a “modest” 16% premium to yesterday’s market close. The firm, which expects Lifeway shares to rally to the $25 level today, believes that Lifeway could command a premium relative to both this offer and the firm’s $28 price target if this proposal stimulates a competitive bidding process. Lake Street keeps a Buy rating on Lifeway shares.
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Read More on LWAY:
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