Grifols - comment

There is continued speculation in the Spanish press concerning the potential take-private of Grifols by Brookfield and the Grifols family.  The most recent topics of conjecture centre on treating the B Class shareholders differently to the A-Class shareholders (The B shareholders would have to vote in favour of such a proposal.  Separately, Brookfield is reportedly in talks with other private equity providers to provide additional equity funds as minority shareholders.

All the speculation confirms that the bidding process is serious but doesn’t indicate any likelihood of success.  Any bid will see the change of control clause triggered on the current financing.