Grifols: Brookfields potential $6.8 billion offer undervalues the firm [Yahoo! Finance Canada]
GRIFOLS SA S/ADR (GIKLY)
NASDAQ:AMEX Investor Relations:
grifols.com/en/web/international/investor-relations/home-page
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Source: Yahoo! Finance Canada
Earlier on Tuesday, Brookfield said it was considering a public offer for Grifols at 10.50 euros per A share and 7.62 euros per B share, implying a company valuation of 6.45 billion euros. The proposal is non-binding, Brookfield said in a filing to the Spanish stock market regulator. The Canadian private equity firm said in July it was interested in making a takeover bid jointly with the Grifols family with the ultimate goal of taking the company private. Grifols said its board would meet later on Tuesday to consider the potential offer, but that, given the valuation, it would not be in a position to recommend that shareholders accept it. Grifols shares were down 6% at 1310 GMT, one of the biggest falls on Spain's blue-chip IBEX 35 index. The company has lost about 30% of its market value since January, when short-seller fund Gotham City Research accused Grifols of overstating earnings and understating debt, which Grifols denied. On Tuesday, an investigating magistrate at
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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
- 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