Lifeway’s board previously rejected Danone’s two acquisition offers, despite Danone being its largest investor. But the future of Julie Smolyansky’s leadership hangs in the balance, with Danone’s decision likely to influence the outcome. The two companies signed an NDA in August to enter talks behind closed doors after Danone’s previous two takeover attempts were rebuffed by Lifeway’s board. But Smolyansky’s leadership has come under fire by her relatives and long-term shareholders Ludmila and Edward Smolyansky, who back Danone’s takeover plans. One question now remains: will Julie Smolyansky’s leadership survive again, or is a changing of the guard inevitable?