Brookfield Asset Management Ltd. has revived talks with Grifols SA’s main shareholder about a potential offer for the Spanish blood-plasma company following a failed attempt last year, according to people familiar with the matter.
Brookfield has been holding discussions with the Grifols family, which holds about 35% of the firm, said the people, who asked not to be named. Talks are ongoing and it’s unclear if Brookfield will go ahead with a formal offer.
Shares of Grifols, a maker of medicines from blood plasma to treat illnesses such as hepatitis, rose as much as 13% in Madrid on Wednesday. El Confidencial reported on the talks earlier.
Representatives for Grifols and the Grifols family declined to comment. A representative for Brookfield also declined to comment.
Brookfield in November walked away away from a plan to acquire Grifols after months of negotiations. The company’s board previously rejected an indicative offer valuing Grifols at €6.45 billion ($7 billion).
Grifols shares advanced earlier this year after the company surprised investors by reporting free cash flow that exceeded guidance. The gain has since been erased as the stock dropped in March. It has climbed less than 1% so far this year.
Shares of Grifols plummeted last year after New York-based short seller Gotham City Research LLC issued a report questioning the company’s governance and accounting. Grifols denied the allegations.
--With assistance from Clara Hernanz Lizarraga.
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