Grifols shares plunge after reports Brookfield considering dropping the takeover

Investing.com -- Shares of Grifols (BME:GRLS ) tanked over 13% on Wednesday after Brookfield, a Canadian investment firm, dropped its plan to buy Spain's Grifols following disagreements over the pharmaceutical company's valuation, Reuters reported on Wednesday

Earlier this month, on November 19, Brookfield made a non-binding offer to purchase Grifols, valuing the human plasma-based drug developer at 6.45 billion euros.

However, the deal has now been scrapped due to differences in pricing expectations. The report said that the spokesperson for the Grifols family said that they believe the company is worth significantly more than Brookfield's offer, and confirmed that they will continue with their current course. 

Brookfield had initially expressed interest in a joint bid with the Grifols family in September, pending a successful due diligence process.

Source: Investing.com