Grifols shares plummeted this Wednesday on the Stock Market, after learning that the Canadian firm Brookfield Asset Management Brookfield has put aside its plans to launch a potential offer for the Catalan company. In a statement to the CNMV, Brookfield points out that “after having carried out exhaustive due diligence and taking into account the reactions of the Grifols Transaction Committee and the Grifols Board of Directors on the potential offer that were communicated to the market on December 19, November 2024, this morning Brookfield has informed the Grifols Transaction Committee that under the current circumstances it is not in a position to proceed with a potential offer for Grifols.”
Following the decision, advanced by Bloomberg, the Grifols family, for its part, has indicated that it will not support a new offer “from a third party” to take it off the stock market, since “it will not support another private purchase and sale operation,” said agency has indicated, citing a spokesperson for the family, reports Ep.
In this context, the class ‘A’ shares of Grifols, those listed on the Ibex 35, fell 10.63%, to 9.522 euros per share, at the same time as ‘B’ type securities, exchanged in the Continuous Market, fell 17%, to 6,835 euros.
Specifically, Brookfield has ended months of negotiationswhich were made public last July, after failing to reach a possible agreement with the board of directors of the Spanish firm on the price.
Last week, Grifols’ board of directors rejected the Canadian fund’s potential offer at a price of 10.5 euros per share and recommended that shareholders not accept this price, which means valuing the signing of blood products at 6,450 million, considering it low.
The management body of the Catalan company met last Tuesday after receiving confirmation from the fund that it was considering a price of 10.5 euros “as an indication of non-binding value» for each of its class ‘A’ shares in the takeover bid that it planned to launch together with the founding family on the Catalan company, which represented a premium of 22% over the securities listed on the Ibex 35 of the Spanish firm as of July 4, 2024 (date on which Grifols closed at 8.63 euros).
Likewise, the fund announced that it proposed a price of 7.62 euros for each type ‘B’ share of Grifols, which are those listed on the Continuous Market.
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