Gotham City Strikes Again: Grifols Shares Plunge Amid New Allegations

Gotham City attacks Grifols again. After learning of Brookfield’s withdrawal from the Takeover Bid (OPA), the short-term fund is once again raising doubts about the Catalan pharmaceutical company. “Brookfield was not getting the information it needed after reviewing Grifols’ books,” said Gotham City.

The shares of the blood derivatives company have thus plummeted on the stock market again, losing up to 10% on the market today. This is the second time that Gotham City has interfered in Grifols’ stock market performance, following the scandal at the beginning of the year.

In this regard, last week, the National Court announced an investigation into Gotham City for releasing biased and misleading information on the financial market regarding the credibility of Grifols and thus inciting the sale of shares.

Specifically, the Anti-Corruption Prosecutor’s Office was the one that reported the crime against the market and consumers for the messages published on X (formerly Twitter) by Gotham City on January 8th and 9th.

Grifols obtained the support of the National Court last week for the Gotham City attack in January

The social media posts included a report on Grifols which concluded that the company’s shares were worth zero euros, causing losses of up to 3.814 billion euros due to the pharmaceutical company’s stock market crash.

Grifols is now facing a stock market imbalance with these accusations and after it was announced yesterday that Brookfield cancelled the takeover bid. At the moment, the pharmaceutical company’s shares fell by up to 14% on the stock market after 4:15 p.m., after it was announced that the blood derivatives company would be negotiating to refinance 1.4 billion euros of debt that expires in 2025.

“Plan A is to refinance the €370 million in bonds maturing in 2025,” Grifols CEO Nacho Abia said in an interview with Bloomberg on Thursday . Aside from the remaining bond, the pharmaceutical company is also reportedly in talks to extend a $1 billion revolving credit line maturing in November 2025.

At its next meeting with shareholders and investors, Grifols will “present its strategic vision and key initiatives designed to achieve growth opportunities and maintain sustained performance.”

Grifols’ net debt stood at €9.208 billion as of September 30th, of which €8.128 billion were net financial debt and €1.08 billion were financial obligations related to the rental of plasma centers.

The company thus reduced its net financial debt, according to the balance sheet presented by the Catalan company, from 9.4 billion in the second quarter to 9.2 billion at the end of the third quarter.

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(Featured image by Adeolu Eletu via Unsplash)

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