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Brookfield mulls $7.4 billion bid for Spain’s Grifols, El Confidencial says
Entrance to Grifols facility with vehicles and people.

Published : 2 weeks ago, on

(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)

 

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