The Canadian fund Brookfield plans to offer around 7,000 million euros for the Spanish pharmaceutical company Grifols after completing the acquisition process. due diligence (due diligence), according to published this Monday The Confidential.
This means that the fund is considering launching an offer for the pharmaceutical company at a price of 10.5 euros, a figure that is below the range of between 11 and 12 euros per share that has been used in the market. It is also below Grifols’ market closing price last Friday of 11,125 euros.
Likewise, it is a price “that is very far from the 14 euros per share expected by some opportunistic funds that have entered the capital taking advantage of the announced takeover bid,” according to the digital newspaper.
This information has caused Grifols shares to close this Monday’s session with a decrease of 2.07%, to remain at 10.895 euros per share.
The Canadian venture capital firm announced in September that it was interested in launching a takeover bid jointly with the Grifols family to take the Catalan pharmaceutical company private.
The company has lost about 30% of its market value since January, when bear fund Gotham City Research accused Grifols of overstating profits and understating debt, which Grifols denied.
After more than four months of an in-depth analysis of the situation of the blood products firm, Brookfield would have finalized the due diligence“which has revealed several relevant tax risks that are not specified,” according to said media.
On the other hand, the Canadian fund could close the group’s debt refinancing contract this week, at which point it would be in a position to launch the takeover bid.
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