grifols

Relevant News Item 6th November 2024

SEC concludes investigation into Grifols over Gotham City report, no penalties announced

Banc Sabadell : The Securities and Exchange Commission (American stock market regulator) reportedly concluded its investigation into Grifols (GRF) on 1 October, accepting the company’s explanations and without announcing any sanctions or the opening of any proceedings. We recall that the SEC began its investigation at the beginning of the year as a result of Gotham City Research’s accusations and, among other things, had asked GRF for ‘an accounting analysis…

Relevant News Item 29th October 2024

Brookfield fund delays Grifols takeover bid for second time after failing to raise required €10,000 million

Bankinter | Brookfield fund has failed to raise the nearly €10,000 million needed to acquire 70% of the company and restructure the debt. This is negative news that casts doubt on whether there will be a takeover bid for Grifols. On 8 July we learned that Brookfield was analysing a takeover bid for Grifols, almost four months have passed since then. At the end of September, the fund asked the…

Relevant News Item 1st October 2024

Brookfield fund asks Grifols for more time to analyse takeover bid and complicates bidding process

Bankinter: The fund has sent a letter to the Board asking for an extension to be able to continue analysing this possible offer. Opinion of the analysis team: Negative news. On 8 July we learned that Brookfield was analysing a takeover bid for Grifols. Almost three months have passed since then and, possibly, a deadline agreed between both parties will expire, which justifies the fund’s request for an extension. The…

Spanish economy 26th September 2024

CNMV issues warning to Grifols, Gotham and General Industrial Partners fund for very serious breaches of law

Bankinter: The National Securities Market Commission (CNMV) has issued a warning to Grifols (GRF), Gotham and the General Industrial Partners (GIP) fund for very serious infringements. In the case of Grifols, according to the CNMV, the group provided information “with inaccurate or untruthful data or which omits relevant aspects in accordance” with accounting standards in the annual reports for 2021, 2022 and 2023, as well as in the accounts for…

Spanish economy 23rd September 2024

Brookfield fund extends study process for another month to decide whether to present takeover bid for Grifols

Bankinter | Brookfield has not obtained the necessary funds to present the takeover bid nor has it reached an agreement with the banks to refinance Grifols’ debt, which amounts to around €10,000 million, so it is to extend one more month the study process to decide whether to present a takeover bid for Grifols. Opinion of the analysis team: Negative news. On 8 July, we learned that Brookfield was analysing…

Spanish economy 23rd September 2024

Group of funds ask for seat on board to be able to monitor Brookfield’s possible takeover bid for Grifols

Bankinter | Flat Footed, Mason Capital Management and Sachem Head funds jointly control 7.7% of Grifols (GRF) and have asked for a seat on the Grifols board. Their objective is to monitor the takeover bid process being analysed by Brookfield and to ensure that a high premium is paid. Opinion of the Bankinter analysis team: Negative news and a new complication in the development of the possible takeover bid for…

Spanish economy 16th September 2024

Brookfield seeks €2 billion in capital for possible takeover bid for Grifols

Norbolsa | Brookfield seeks €2,000 million of capital for the eventual takeover bid for Grifols. The funds would be used to alleviate the group’s financial burden. Currently in the analysis phase, if it goes ahead it will be the largest operation of the year in Spain. To this end, Brookfield has held talks with some of the world’s leading sovereign wealth funds, including Abu Dhabi’s ADQ and Singapore’s GIC, as…

Spanish economy 4th September 2024

Grifols cancels Investor Day due to negotiations with Brookfield to launch delisting takeover bid

Bankinter | The company has announced that it will not hold its Investor Day. The date was scheduled for 10 October. The reason given is the negotiations with the Brookfield fund to launch a delisting takeover bid for the company’s shares. Analysis team’s opinion: This is news that in another situation would be negative. In the current situation the impact is minor, the only important thing now is whether the…

Companies, Ibex 22nd August 2024

Brookfield negotiates with banks to refinance €10 billion of debt to move forward with Grifols takeover bid

Norbolsa | Brookfield negotiates with banks to refinance €10,000 million of debt to advance in the Grifols takeover bid. Thus, the Canadian fund seeks to cover itself against a possible demand from current creditors to collect the debt before a change of hands in the ownership of the pharmaceutical company, which currently amounts to about €9,500 million.

Companies, Ibex, Relevant News Item 14th August 2024

L.A. law firm files class action lawsuit against Grifols based on allegations about accounts

Alphavalue/DIVACONS | A Los Angeles law firm, The Schall Law Firm, filed a class action lawsuit against the Catalan company on Tuesday, based on allegations made earlier this year by Gotham City about its accounts. This comes at a time when Grifols is debating a possible takeover bid being prepared by the Grifols family in conjunction with Canadian fund Brookfield. Grifols shares dropped -5.38% yesterday. Grifols: Buy, Target Price €19.9/share.

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