MADRID (Reuters) -Shares in Grifols jumped sharply on Wednesday morning after news website El Confidencial reported that Canadian fund Brookfield has resumed takeover talks with the Spanish pharmaceuticals company’s shareholders.
Grifols shares were up 8.9% at 8.86 euros in mid-morning trading while the blue-chip IBEX35 index was unchanged after jumping 12% earlier in the day.
Brookfield has contacted the Grifols family, the company’s largest shareholder, and is considering making an offer valuing the company at 7 billion euros ($7.55 billion), El Confidencial said, adding that the investment fund is being advised by Morgan Stanley.
Grifols’ board does not have any knowledge of discussions regarding an offer from Brookfield resuming as was reported, the company said in a filing to the stock market regulator.
The Grifols family is represented on the board.
A non-binding offer that valued Grifols at 6.7 billion euros was withdrawn by Brookfield in November after Grifols management rejected the bid as too low and recommended shareholders keep their shares.
The Grifols family, Brookfield and Morgan Stanley declined to comment.
($1 = 0.9266 euros)
(Reporting by Inti Landauro and Andres GonzalezEditing by David Goodman and Louise Heavens)
