Grifols (NASDAQ:GRFS) stock is jumping on Monday after investors learned that the founding family of the company is considering a takeover offer that would see it go private.
The Grifols family is working alongside Brookfield on an offer that would result in a takeover of the business. It’s worth pointing out that they currently hold a 30% stake in GRFS shares.
The board of directors at Grifols is considering the preliminary offer made by the Canadian fund and the Grifols family. If all goes well, this will result in the founding family acquiring all outstanding shares of GRFS stock.
It’s still unclear just how much the Grifols family will pay per share of GRFS. However, the early reports claim that it could send as much as $5.96 billion to acquire the remaining shares of the company’s stock that it doesn’t already hold.
What This Means for GRFS Stock
If this deal goes through, it would see Grifols go from a publicly traded company to a private business. When that happens, shares of GRFS stock will no longer trade on a public exchange.
Today’s takeover news brings with it heavy trading of GRFS stock. This has more than 6.3 million shares changing hands as of this writing. That’s well above its daily average trading volume of about 1.2 million shares.
GRFS stock is up 19.8% as of Monday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
