Grifols Signals It Would Reject $6.8 Billion Brookfield Bid [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 offer “significantly undervalues the company's fundamental prospects and its long-term potential,” Grifols said in a regulatory filing on Tuesday. The asset manager's disclosure was a tentative, non-binding indication requested by the Spanish regulator following media reports. The Grifols family, which owns about a third of the company, and Brookfield have been in talks since July to take the drugmaker private. Brookfield has been waiting for the company to supply information about related-party transactions to complete due diligence and assess the value of the business, Bloomberg has reported. “We now know that the company would not accept an offer at this level,” Oddo BHF analyst Juan Ros-Padilla said in a note to clients. It's “now more likely” that Brookfield will abandon the deal, Ros-Padilla wrote. Grifols shares closed 4.8% down Tuesday, after Brookfield disclosed that it had signaled a price of €10.5 per Class A share of Grifols and €7.62 per Class B share. Brookfie
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News
- Grifols' Board Rejects Brookfield's Buyout Offer, Stock Down 8% [Yahoo! Finance]Yahoo! Finance
- 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