Canadian company Brookfield Asset Management confirmed on Tuesday that it was considering offering a price of 10.50 euros for each Grifols class A share. This figure represents a 22% bonus on the unchanged price as of July 4, 2024. The transaction committee appointed by the blood products company rejected the offer.
The fund proposal would involve the allocation of a net worth in Grifols 6.450 million euros and a price of 7.62 euros for each class B share. The Transactions Committee of the Board of Directors “concluded that a potential offer at this valuation level. “would significantly undervalue the fundamental prospects and long-term potential of the company.”
Therefore, “the Transactions Committee would not be able to recommend to the board of directors support a public offer of the company at this valuation or recommend to shareholders the acceptance of a possible offer at the indicated price”, according to inside information published by the National Securities Market Commission (CNMV).
Brookfield detailed that at that time “there is no agreement or decision regarding the potential offer or its possible terms and conditions (including, without limitation, potential prices). » Thus, the company “continues to interact with the Grifols transaction committee”.
Likewise, remember that “there is no guarantee that an offer will be made on Grifols shares.” It was last July that it emerged that Brookfield and the Grifols family were studying the launch of a public takeover bid (OPA) for 100% of the blood products company. If the operation was successful, this would mean the delisting of the Catalan pharmaceutical company.
Earlier this month, Brookfield called more information to Grifols over its relationship with Scranton, the investment vehicle of the Grifols family and several former executives of the company. The objective of the fund was to complete the “due diligence” on which it has been working since last July.
The price envisaged by the Canadian fund was known the same day the National Court admitted a complaint from the anti-corruption prosecutor’s office. to investigate Gotham Cityto General Industrial Partners LLP (GIP) and several of its directors for allegedly launching the financial market biased and misleading information about the credibility of Grifols.
