A Grifols facility in Parets del Valles, Spain, on Jan. 9.ALBERT GEA/Reuters
Canadian fund Brookfield Corp. BN-T plans to offer about €7-billion ($10.4-billion) for Spanish drugmaker Grifols SA after finishing due diligence, news website El Confidencial reported on Monday, citing sources close to the matter.
Brookfield is evaluating offering €10.5 ($15.60) a share in a public tender offer, El Confidencial said, below Grifols’s closing market price on Friday of €11.125 ($16.54).
The Canadian private equity firm said in September it was interested in launching a takeover bid jointly with the Grifols family, pending successful completion of due diligence.
The company has lost about 30 per cent of its market value since January, when short-seller fund Gotham City Research accused Grifols of overstating earnings and understating debt, which Grifols denied.
Spokespeople at Brookfield and Grifols did not immediately respond to requests for comment.