Lifeway Foods (LWAY) announced a Cooperation Agreement with Danone North America PBC (DANOY). Subject to the terms and conditions of the Cooperation Agreement, Lifeway agreed to carry out an orderly refreshment of its board of directors, and the pending litigation pertaining to Danone’s Stockholders’ Agreement with Lifeway will be stayed. Additionally, Danone has agreed not to act by written consent in favor of proposals contained in the ongoing consent solicitation filed by Edward and Ludmila Smolyansky, among others, and to support the Board’s recommended director candidates at the 2025 and 2026 annual meetings. In addition, Lifeway is in the process of evaluating capital allocation alternatives in light of these changes in order to maximize value for shareholders.
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