Lifeway Foods up after Danone unit proposes a deal to buy it

Lifeway Foods

23/09/2024 21:29

** Shares of Kefir-maker Lifeway Foods  LWAY.O  jump 17% to
$25 in after-hours trading
    ** Danone North America PBC, a subsidiary of Danone
S.A. DANO.PA , offers to buy LWAY for $25/shr in cash 
    ** The deal would be wholly funded from existing cash
reserves of Danone North America, according to a filing from
LWAY
    ** Danone North America has a 23.4% stake in Lifeway, as of
Sept. 23
    ** LWAY has risen 60.3%, YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))