Grifols Stock Declines After Brookfield Drops Buyout Offer [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
Both parties likely failed to arrive at a common ground over the company's value. Last week, Grifols' board refused to endorse Brookfield's offer to acquire its outstanding share capital for €6.45 billion (around $6.8 billion). Per management, the valuation “significantly undervalues the company's fundamental prospects and its long-term potential.” This announcement puts an end to months of negotiations between Grifols and Brookfield, which, along with key shareholders of Grifols, had expressed its intent for a potential takeover in July. These key shareholders are members of the Grifols family as well as the founders of the company. Per a Bloomberg article, the Grifols family owns about a third of the company. Alongside discussions with management, Brookfield was also reportedly in discussion with banks to raise funds for the above transaction. Through these funds, it intended to refinance Grifols' existing debt, which includes loans and high-yield bonds. This need for refinanci
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News
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