The Canadian firm Brookfield Asset Management Brookfield will not continue with the potential offer for Grifols, which it intended to launch together with the founding family of the Catalan firm, according to reported this Tuesday to the National Securities Market Commission (CNMV) through its British subsidiary Brookfield Capital Partners.
“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,” the fund stated.
Thus, the firm has made this decision after having carried out a due diligence “exhaustive” and taking into account the reactions of the Grifols Transaction Committee and its board of directors regarding the potential offer that was communicated to the market on November 19.
After Brookfield abandoned its intention to launch a public takeover bid (OPA) for the Catalan company, the Grifols family has stated that it is “very satisfied and happy” with the support received from current shareholders, which is why it will not support any other operation, according to sources from the family environment.
“The Grifols family considers that the company has great value and will continue to develop its expansion, as it has been doing for more than 115 years,” the same sources indicated.
Likewise, the board of directors of Grifols has agreed with Brookfield that, given the current circumstances, it is not feasible for the transaction to go ahead, therefore it considers the operation closed.
According to The blood products company has reported to the National Securities Market Commission (CNMV)the company’s highest governing body, meeting this afternoon in an extraordinary manner to analyze Brookfield’s decision, has thanked all the efforts, “although they have not been sufficient, and remains focused on improving the long-term value of the company.” .
In this way, Brookfield has put an end to months of negotiations, which 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 potential offer from the Canadian fund at a price of 10.5 euros per share and recommended that shareholders not accept this price, which meant valuing the blood products firm at 6.45 billion euros, considering it low. .
In this context, Grifols shares have plummeted on the Stock Market and have led the falls of the Ibex 35 this Wednesday by recording a depreciation of more than 9%.
Specifically, the Catalan blood products company has lost 9.08% of its stock market value, bringing the unit price of its shares to 9.688 euros. It should be noted, however, that the stock has plummeted almost 14% in the morning, when the agency Bloomberg advanced the news.
On their side, the actions class Bwhich are listed on the continuous market, have closed the session with a drop of 9.05%, to 7.49 euros.
So far this year, going through the crisis with the bearish Gotham fund, the Catalan company has accumulated a depreciation of 37%, such that the market capitalization at the close of this Wednesday stood at 6,086 million euros.
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