
Shares of Kefir-maker Lifeway Foods LWAY.O fall as much as 24.1% to $25.66 in early trade
Stock set for its worst day since November 2023, if losses hold
French food group Danone DANO.PA in SEC filing, says it will no longer pursue acquisition of Lifeway, adding it is in process of reviewing alternatives for its investment in LWAY
Danone North America PBC, subsidiary of DANO, had offered to buy LWAY for $25 per share in cash in September 2024
LWAY had rejected revised unsolicited proposal in November last year, saying it undervalued co
Danone currently owns 22.7% of outstanding shares of LWAY - data compiled by LSEG
Up to last close, LWAY stock has risen ~36% YTD; It hit a record high of $34.30 on Wednesday