Brookfield (NYSE: BN), the Canadian fund, plans to offer about 7 billion euros ($7.4 billion) for Spanish drugmaker Grifols (NASDAQ: GRFS) after finishing due diligence, news website El Confidencial reported on Monday, citing sources close to the matter.
Brookfield is evaluating offering 10.5 euros per share in a public tender offer, El Confidencial said, below Grifols’ closing market price on Friday of 11.125 euros.
In September, the Canadian private equity firm said 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% 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.
($1 = 0.9486 euros)
