Grifols Stock Declines After Brookfield Drops Buyout Offer

Shares of Grifols (GRFS) lost over 7% on Wednesday after the company announced that Canada-based Brookfield Asset Management has withdrawn its plan to acquire it.Both parties likely failed to arrive at a common ground over the company's value. Last week, Grifols’ board refused to endorse Brookfield’s offer to acquire its outstanding share capital for €6.45 billion (around $6.8 billion). Per management, the valuation “significantly undervalues the company’s fundamental prospects and its long-term potential.” ...