Grifols Shares Plunge 17% as Brookfield Halts €6.45 Billion Takeover Bid; CEO Nacho Abia Addresses 4,500 Questions

Grifols, the Spanish pharmaceutical company, experienced a significant decline in its stock price, falling by 17% following the announcement that Brookfield has suspended its takeover bid for the company, valued at approximately €6.45 billion. This decision has raised concerns among investors, particularly as Grifols faces substantial financial challenges, with financial expenses consuming nearly half of its profits. CEO Nacho Abia has refuted claims that the company failed to provide adequate information to Brookfield, stating that he met with the fund 20 times and addressed 4,500 questions. Additionally, the minority investors' association of Grifols has criticized the takeover bid, aligning with members of the founding family against the proposal. The company has seen its market value plummet by over 40% this year, amidst a broader context where operations worth over €50 billion have collapsed in the Spanish pharmaceutical sector.