Brookfield has pulled its €6.45 billion offer to take Spanish drug maker Grifols SA private after failing to agree on the purchase price. The withdrawal comes after months of negotiations and despite support from the Grifols family, who own nearly 30% of the company's shares.
has pulled its €6.45-billion offer to take Spanish drug maker Grifols SA private after failing to agree on the purchase price, walking away from the specialist pharmaceutical company that has expanded its business into Canada.a non-binding joint proposal
The deadlock over the offer price came after months of talks and work to raise financing for a deal, and in spite of support from the Grifols family, who own nearly 30 per cent of the multinational pharmaceutical company’s shares. “After extensive due diligence,” and considering the company’s reaction to the potential offer, “this morning Brookfield informed the Grifols Transaction Committee that in the current circumstances it is not in a position to continue with a potential offer for Grifols,” Brookfield said inSpokespeople for Grifols did not immediately respond to a request for comment. But a Grifols family spokesperson confirmed Brookfield’s withdrawal to Reuters News, citing “a discrepancy over the price.
Brookfield Grifols SA Takeover Pharmaceutical Industry Share Price Blood Plasma Products
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spanish drugmaker Grifols says Brookfield’s potential €6.45-billion offer undervalues the companyEarlier on Tuesday, Brookfield said it was considering a public offer for Grifols at €10.50 per A share and €7.62 per B share, implying a company valuation of €6.45-billion
Read more »
Brookfield Weighs €6.45 Billion Bid for Grifols; Shares DropBrookfield Asset Management is considering a €6.45 billion ($6.9 billion) bid for Grifols SA, with the drug maker’s board set to meet Tuesday to discuss the potential offer. Grifols’s shares fell.
Read more »
Brookfield Set to Drop Grifols Bid as Family Shuns OthersBrookfield Asset Management Ltd. is preparing to walk away from a plan to acquire Grifols SA over disagreements on valuation for the Spanish drug maker, according to people familiar with the matter.
Read more »
Saudi Arabia Set to Back $2 Billion Brookfield Mideast FundSaudi Arabia will back Brookfield Asset Management Ltd.’s new $2 billion Middle East fund, giving the Canadian investment firm extra financial firepower to pursue deals in the oil-rich Gulf region.
Read more »
Brookfield invests $2.3-billion in U.K.-based offshore wind farm operationsOrsted A/S will still own nearly 38 per cent of the four wind farms Brookfield is buying into
Read more »
U.S. investor Bill Ackman acquires $2.6-billion stake in Brookfield Corp.Billionaire’s hedge fund bets on Brookfield as major owner and operator of critical infrastructure assets
Read more »