(Bloomberg) -- The Grifols family won’t support a new bid by a third-party to take its namesake drug-maker private amid indications that Brookfield Asset Management may scrap plans to acquire the company.
The family “will not back another take private transaction,” a spokesperson for the Grifols family said by phone. “We are very pleased with all the letters we’ve received from existing shareholders telling us the company is worth more and we will continue working so that the company’s value increases even more.”
Brookfield is set to abandon plans to acquire Grifols SA over disagreements with the Spanish company’s board on valuation, Bloomberg reported earlier on Wednesday. Talks had been going on for months, with Brookfield having disclosed them in July.
Earlier this month, Grifols board rejected an indicative price offer from Brookfield that valued the company at €6.45 billion ($6.8 billion). Brookfield planned to make the bid in partnership with the Grifols family, who own about a third of the company.
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