Monday, November 25, 2024
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Rejected. Lifeway’s Board rejected Danone’s revised offer to acquire all of the LWAY shares it currently does not own for $27 per share. The Board stated the “revised proposal substantially undervalues Lifeway and is not in the best interests of the Company and its shareholders or other stakeholders.” Danone has yet to respond.
The Third Party. Following the rejection, Edward and Ludmila Smolyansky called for Lifeway’s Board to immediately establish an independent special committee to evaluate and negotiate a transaction with Danone or other potential buyers. In addition, Edward and Ludmila are seeking public disclosure of any valuation analysis done by Kroll when Kroll assisted the Board in June 2023 to explore strategic alternatives.
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