Danone: UBS still a buyer

(CercleFinance.com) - UBS confirms its buy recommendation on the stock, with a target price of E72, following the announcement of a takeover bid for the US company Lifeway Foods.


This acquisition will contribute to the group's organic sales growth and will be consistent with Danone's focus on gut health, UBS says.

Danone will offer $25 per share to acquire 100% of US-based Lifeway Foods, in which it already holds a 23.4% stake.

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


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