Danone Withdraws Interest in Lifeway Foods Acquisition
Danone has withdrawn its interest in a Lifeway Foods acquisition, according to an SEC filing.
Danone, a French dairy company, had entered an agreement last month to conduct a review of a potential acquisition of Lifeway. But the company said it is no longer interested in an acquisition and is now in the process of reviewing alternatives for its investment in Lifeway.
Danone said that as part of those alternatives, it is considering whether to vote for a proposal that would oust the entire Lifeway board.
"With the distraction...
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