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 Grifols family for more time to analyse the takeover bid or seek financing.
This new delay adds to the uncertainty over whether Brookfield will submit a bid for Grifols. A waiver from the fund would have a negative impact on Grifols’ share price. We reiterate our Sell recommendation.
