1 week Ago By Albert Rigol
The serial about a possible takeover bid for Grifols isn't over. The proof is in its share price: the Catalan pharmaceutical company's shares, which had been battered for a few days, soared this Wednesday by up to 14% (at midday they were close to 6%) after El Confidencial published that the Canadian fund Brookfield, –and that in September – is once again in talks with his family, through Morgan Stanley. The objective is to launch another takeover bid for 7 billion euros, according to this media outlet, an offer 300 million higher than the one proposed last November, which was set at 10.
5 euros per share and which the Catalan company's board of directors ultimately rejected as too low. "It would significantly undervalue the company's fundamental prospects and its long-term potential," the body stated at the time. Regarding today's offer, the company has simply communicated through the National Securities Market Commission (CNMV) that its board of directors "lacks knowledge" of this information.
This week, to acquire the stake it did not yet hold in its German subsidiary Biotest. Ending the turbulent times The agreement announced in July with Brookfield came after a turbulent period for the pharmaceutical company, which worsened since January 2024 with the attack by the Gotham short fund, which in January accused Grifols The company's share price was declining due to the outbreak of the pandemic - when it had to close its plasma collection centers - which forced it to implement a restructuring plan, which has resulted in many changes in management, such as . In recent months, it has maneuvered to reduce its debt, which climbed to €9 billion.
When the possibility of taking the company private became public, sources close to the Grífols family explained that the family was "absolutely tired of the mistreatment in recent months" and the media exposure the company has received since the Gotham accusations. The idea was to take Grifols off the market for a while and return after a while..
