JPMorgan Chase Reduces its Stake in Grifols to 3.11% Amid Possible Takeover Bid

The American bank JPMorgan Chase has reduced its stake from 3.458% to 3.111% in the share capital of Grifols , in a context marked by the start of the due diligence (internal audit) requested by the Brookfield fund and the owner family to prepare the possible Public Acquisition Offer (OPA) of exclusion on the Catalan company.

Specifically, the bank’s 3.111% stake is distributed between 0.256% of voting rights attributed to shares and 2.855% through financial instruments, which were notified to the supervisor on Monday, August 5, according to the records of the National Securities Market Commission (CNMV), consulted this Wednesday by Europa Press.

This new notification to the CNMV, which has been produced after the Bank of America entity revealed a 3.682% stake in Grifols at the beginning of this week , reveals that JPMorgan Chase reduces its voting rights attributed to its shares in the Catalan company from 0.597% to 0.256%, while reducing its voting rights through financial instruments from 2.861% to 2.855%.

Grifols closed the first half of the year with a reported net profit of 36 million euros, compared to losses of seventy million in the same period of 2023

Bank of America thus managed to outperform other investors such as JPMorgan Chase, which now holds 3.111%. It would be behind Capital Research, which holds 4.577%, or Blackrock, with 4.411%.

Thus, JPMorgan Chase holds more than thirteen million shares of the Catalan company, which at the current market price of around 8.974 euros on the Ibex 35, are worth close to 119 million euros.

Grifols CEO Thomas Glanzmann explained last Tuesday that the board of directors of the Catalan firm has responded to the request for information made by the family and the Brookfield fund, although he stressed that currently “there is no offer, agreement or decision on a possible transaction.”

“There is also no guarantee that Brookfield and the anchor shareholders will make an offer,” the CEO added, adding that there was no time limit set for filing due diligence .

Grifols closed the first half of the year with a reported net profit of 36 million euros, compared to losses of seventy million in the same period in 2023, while net profit excluding extraordinary items was 152 million, and reduced its leverage ratio to 5.5 times.

__

(Featured image by Matthew Foulds via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us