Lifeway Foods Inc., a supplier of kefir and fermented probiotic products to support the microbiome, confirmed that it has received an unsolicited, non-binding proposal from Danone North America PBC to acquire all outstanding shares of common stock of Lifeway it does not already own for $25 per share in cash.

According to the Schedule 13D amendment filed with the U.S. Securities and Exchange Commission disclosing the proposal, Danone currently owns approximately 23.4% of Lifeway's outstanding common stock.

"Consistent with its fiduciary duties, Lifeway's board of directors, in consultation with its independent outside advisors, will carefully review and evaluate the proposal to determine the course of action that it believes is in the best interests of the Company and its stakeholders," Lifeway said. "The company does not undertake any obligation to provide any updates with respect to this or any other proposal or transaction, except as required under applicable law."

Lifeway Foods' stock jumped higher by 24% on Sept. 24 to $26.57 per share based upon this news.