By Connor Hart
Lifeway Foods received an acquisition offer from Danone, who said it will pay about $283.4 million to buy all of the outstanding shares of the company that it doesn't already own. The Paris-based food and beverage company owns about 3.45 million shares of Lifeway, representing about 23% of the Illinois-based food manufacturer's 14.8 million outstanding shares as of Aug. 6. It offered to buy all outstanding shares of Lifeway that it didn't already own for $25 each. Shares rise 16%, to $24.92, in Monday after-hours trading.
Hawaiian Electric Industries plans to offer $500 million in common stock in a public offering. Proceeds from the offering are expected to fund the company's contribution to an expected Maui wildfire tort litigation settlement, as well as for general corporate purposes, the utility said. Shares fall 9.6% to $9.85, in postmarket trading.
Educational Development completed a sale and leaseback deal for its headquarters and distribution warehouse in Tulsa, Okla. The publisher and maker of education toys and games said proceeds from the sale will be used to pay off term loans and a revolving loan in credit agreement with its bank. It signed a 15-year lease for the facility. Shares gain 24%, to $2.50, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
September 23, 2024 19:24 ET (23:24 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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