Grifols shares surge on reports of fresh Brookfield bid

(Sharecast News) - Shares in Grifols surged on Wednesday following a report that Canadian investment firm Brookfield had resumed takeover discussions with the Spanish pharmaceutical company. The stock rose more than 10% in early trading, outperforming a flat IBEX 35 index.

According to Spanish news outlet El Confidencial, Brookfield was exploring a potential bid that could value Grifols at about €7bn.

The report said Brookfield had re-engaged with the Grifols family - the company's largest shareholder - and was working with Morgan Stanley as an advisor.

According to Reuters, Brookfield previously submitted a non-binding offer worth €6.7bn in November, which was rejected by Grifols management for undervaluing the company.

That proposal was later withdrawn.

Neither Brookfield nor Morgan Stanley had commented on the reports on Wednesday morning.

The Grifols family also declined to comment on the renewed talks, Reuters said.

At 1051 CEST (0951 BST), shares in Grifols were up 13.97% in Madrid, at €9.27.

Reporting by Josh White for Sharecast.com.