IBEX 35 index data from financial platforms like Bloomberg or Yahoo Finance

Brookfield Abandons Grifols Acquisition, Stock Plummets

Nov 27, 2024, 09:01 AM

Brookfield Asset Management is reportedly preparing to abandon its plans to acquire Spanish drug-maker Grifols SA due to disagreements over valuation. Grifols' board recently rejected Brookfield's indicative offer, leading to a significant drop in Grifols' stock price. The shares fell as much as 17% after the news broke, with the company's stock plummeting by 12% on the day. The potential withdrawal of the offer has also impacted the broader market, with the IBEX 35 index losing 11,600 points. The Grifols family has indicated they won't support a new bid by a third-party to take the company private.