Brookfield Weighs €6.45 Billion Bid for Grifols; Shares Drop [BNN Bloomberg (Canada)]
GRIFOLS SA S/ADR (GIKLY)
NASDAQ:AMEX Investor Relations:
grifols.com/en/web/international/investor-relations/home-page
Company Research
Source: BNN Bloomberg
The transaction committee of Grifols' board, which oversees talks with Brookfield, has considered the price and concluded that it undervalues the company and it cannot recommend it, according to a statement from Grifols Tuesday. Brookfield had issued a seperate regulatory filing earlier, in which it disclosed that it had signaled a tentative, non-binding price of €10.5 per Class A share of Grifols and €7.62 per class B share. Talks continue, Brookfield said. Grifols Class A shares declined as much as 6.7% after the statements were published. They were down 2.94% to €10.57 per share at 12:44 p.m in Madrid. Brookfield and the Grifols family, which owns about a third of the company, have been in talks since July to take the company private. The approach came after Grifols was hit by a short-seller attack in January, that led to a collapse in its share price and sweeping management changes — including a new chief executive officer, a new chief financial officer and the removal of all
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News
- Grifols' Board Rejects Brookfield's Buyout Offer, Stock Down 8% [Yahoo! Finance]Yahoo! Finance
- 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 [Yahoo! Finance Canada]Yahoo! Finance Canada