Grifols Faces Delisting Bid From Founding Family and Brookfield
By Helena Smolak
Grifols' founding family and Canadian fund Brookfield are considering a joint takeover bid of the Spanish drugmaker to take it private, after the company shed billions in market value following a variety of accusations from a short-seller.
The Barcelona-based pharmaceutical company said in a regulatory filing on Monday that its board of directors held an emergency meeting this weekend after receiving a preliminary offer from the two parties. Both parties aim to submit a definitive offer in the coming weeks following the request for further company information for due-diligence purposes, Grifols said.
Brookfield didn't immediately respond outside working hours when asked for comment by Dow Jones Newswires.
The Spanish regulator Comision Nacional del Mercado de Valores suspended trading of Grifols' stock, it said this morning prior to the market opening. The stock lost 42% year to date. U.S. Investment firm Gotham City Research claimed earlier this year that highly indebted Grifols failed to disclose information pertinent to investors.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
July 08, 2024 05:13 ET (09:13 GMT)
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