Danone: takeover bid on American Lifeway Foods

(CercleFinance.com) - Danone announced on Monday evening that it would offer $25 per share to acquire the entire share capital of American Lifeway Foods, in which it already holds a 23.
4% stake.

In a financial notice published on the Securities and Exchange Commission (SEC) website, the French food group specifies that its all-cash offer will be financed from its existing resources.

Its proposal values Lifeway Foods, a manufacturer of milk-based natural yogurts such as kefir, on the basis of a total enterprise value of $370 million.

Following this announcement, Lifeway Foods shares climbed over 23% to $26.6 on Tuesday morning on the New York Stock Exchange, i.e. exceeding the unit price proposed by Danone.


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