Published by Uma Rajagopal
Posted on November 18, 2024
1 min readLast updated: January 28, 2026
Add as preferred source on Google
(Reuters) – Canadian fund Brookfield plans to offer about 7 billion euros ($7.4 billion) for Spanish drugmaker Grifols after finishing
(Reuters) – Canadian fund Brookfield plans to offer about 7 billion euros ($7.4 billion) for Spanish drugmaker Grifols after finishing due diligence, news website El Confidencial reported on Monday, citing sources close to the matter.
Brookfield is evaluating offering 10.5 euros per share in a public tender offer, El Confidencial said, below Grifols’ closing market price on Friday of 11.125 euros.
The Canadian private equity firm said in September it was interested in launching a takeover bid jointly with the Grifols family, pending successful completion of due diligence.
The company has lost about 30% of its market value since January, when short-seller fund Gotham City Research accused Grifols of overstating earnings and understating debt, which Grifols denied.
Spokespeople at Brookfield and Grifols did not immediately respond to requests for comment.
($1 = 0.9486 euros)
(Reporting by Javi West Larrañaga. Editing by Inti Landauro and Mark Potter)
Due diligence is the process of investigating a business or investment opportunity to confirm all material facts and assess risks before proceeding with a transaction.
A public tender offer is a bid to purchase some or all of shareholders' shares in a corporation at a specified price, usually at a premium over the current market price.
Market value is the price at which an asset would trade in a competitive auction setting. It reflects the current worth of a company based on its stock price.
A takeover bid is an offer to purchase some or all of shareholders' shares in a company, often made by another company or investor.
A private equity firm is an investment company that uses its own funds or capital raised from investors to acquire equity ownership in private companies.
Explore more articles in the Business category
