Lifeway Foods, Inc. has announced the adoption of a shareholder rights agreement, effective November 4, 2024, in the light of an unsolicited proposal from Danone North America PBC to acquire the outstanding shares of common stock that Danone does not already own for $25.00 per share. The company's board of directors aims to prevent Danone from controlling the company through open market acquisitions or other methods without offering a control premium to all shareholders or giving the board enough time to make decisions for the benefit of all stakeholders. Under this rights agreement, dividends of rights were declared, allowing shareholders to buy a fraction of a share of Preferred Stock at $130.00 per Right, subject to adjustment.
List of Names mentioned in the text: - Lifeway Foods, Inc. - Danone North America PBC - Computershare Trust Company, N.A. (as rights agent) - Julie Smolyansky (Chief Executive Officer and Secretary of Lifeway Foods, Inc.)