The Canadian firm Brookfield Asset Management requested more time from the board of directors of Grifols for the analysis of public tender offer (takeover bid) on the blood products company that the founding family of the Catalan company is preparing. The company, however, declined to comment on this request from the Brookfield fund, which is immersed in due diligence since last July, when the executive chairman of Grifols, Thomas Glanzmannannounced that it had already started.
Brookfield said it would send a letter to Grifols, possibly as soon as Monday, requesting an extension to complete its review of the company. This news comes after the opening of a sanction file by the National Securities Market Commission (CNMV) in Grifols, due to deficiencies in its financial information and management reports.
Furthermore, the CNMV has also initiated sanction procedures against Gotham City Research and General Industry Partners (GIP) for alleged market manipulation related to Grifols shares, as well as violations of the Market Abuse Regulation regarding investment recommendations.
Following this news, Grifols shares fell by almost 1% during the Ibex 35costing around 10,055 euros. This price remains lower than the 11 euros which would be envisaged in Brookfield’s proposal to acquire the company’s shares.
Brookfield and Grifols
On the other hand, Grifols keeps all its capital investments “limited and controlled” due to its debt level, even as it continues its expansion plans in Egypt And Canadastill without confirming the construction of its industrial center in Barcelona, as reported by company sources PE. This new facility would be located in Barcelona, on an 80,000 square meter property that the Catalan company already owns.
However, sources from the Catalan company explained to Europa Press that at the moment, “Grifols has not taken any firm decision on the location of the facilities of its future projects of industrial expansionbeyond those confirmed in Canada and Egypt, “the company maintains all its capital investments limited and controlled, as announced”, indicated the same sources. PE.
