Grifols' Board Rejects Brookfield's Buyout Offer, Stock Down 8% [Yahoo! Finance]
GRIFOLS SA S/ADR (GIKLY)
NASDAQ:AMEX Investor Relations:
grifols.com/en/web/international/investor-relations/home-page
Company Research
Source: Yahoo! Finance
Per a regulatory filing submitted to the SEC, Grifols stated that the valuation offered by Brookfield “significantly undervalues the company's fundamental prospects and its long-term potential.” Brookfield, along with key shareholders of Grifols, had expressed its intent for a potential takeover of the company in July. These key shareholders are the members of the Grifols family as well as founders of the company.Per a Bloomberg article, the Grifols family owns about a third of the company. Brookfield is reportedly in discussion with banks to raise funds for the above transaction. Through these funds, it intends to refinance Grifols' existing debt, which includes loans and high-yield bonds. This need for refinancing is due to a clause in Grifols' existing debt agreements that would allow bondholders to demand early repayment at a premium if the company is taken private. Shares of the company plummeted as investors were not impressed with the valuation offered by Brookfield. Som
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News
- Grifols Signals It Would Reject $6.8 Billion Brookfield Bid [BNN Bloomberg (Canada)]BNN Bloomberg
- Grifols Board Issues Unfavorable Opinion on Brookfield Offer [Yahoo! Finance]Yahoo! Finance
- Grifols: Brookfields potential $6.8 billion offer undervalues the firm [Yahoo! Finance Canada]Yahoo! Finance Canada
- Brookfield Weighs €6.45 Billion Bid for Grifols; Shares Drop [BNN Bloomberg (Canada)]BNN Bloomberg
- Brookfield Weighs €6.45 Billion Bid for Grifols; Shares Drop [Yahoo! Finance Canada]Yahoo! Finance Canada