Brookfield Set to Drop Grifols Bid as Family Shuns Others
Brookfield Asset Management Ltd. is preparing to walk away from a plan to acquire Grifols SA over disagreements on valuation. The Spanish company’s billionaire founding family said it won’t support any new bid to take its namesake drug-maker private.
Brookfield drops US$6.8-billion offer to buy drugmaker Grifols
Grifols shares fell as much as 14 per cent after the news was published by Bloomberg, the biggest intra-day decline since Feb. 29. They traded eight per cent lower at 3 p.m. in Madrid. Its bonds due in October 2028 recorded the steepest daily drop since January in early morning trading to around 89 cents.
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