Canadian fund drops bid for Spanish pharma firm Grifols [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
Brookfield and the Grifols family, which owns about a third of the Barcelona-based company that makes medicine derived from blood plasma, have since July been in talks to take it private. Earlier this month Brookfield made a 6.45-billion-euro bid for Grifols, offering a tentative non-binding price of 10.50 euros ($11) per share. Grifols swiftly rejected the bid, saying it "significantly underestimated the fundamental prospects and long-term potential" of the company. In a statement sent to Spanish stock market regulator CNMV, Brookfield said it was "not in a position to continue with a potential offer" for Grifols. Grifols said its board agreed that "it is not feasible that the transaction goes ahead" and remains focused on "improving the company's long-term value". Its share price plunged in January after US hedge fund Gotham City released a research note accusing the company of "manipulating" its reported debt and operational results to "artificially reduce" its debt rati
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News
- Grifols' Worst-Ever Year Can't Derail Analyst Calls to Buy [BNN Bloomberg (Canada)]BNN Bloomberg
- Grifols' Worst-Ever Year Can't Derail Analyst Calls to Buy [Yahoo! Finance Canada]Yahoo! Finance Canada
- Grifols Keeps Door Open to Brookfield With Special Bond Term [Yahoo! Finance Canada]Yahoo! Finance Canada
- Grifols' Annus Horribilis Has Analysts and Short Sellers Divided [Yahoo! Finance]Yahoo! Finance
- SEC Drops Probe Into Gotham Over Report on Grifols' Accounts [Yahoo! Finance]Yahoo! Finance