GRFS Stock Alert: Grifols rises 20% due to takeover interest

Grifols (NASDAQ:GRFS) shares jumped on Monday after investors learned that the company’s founding family is considering a takeover offer that would take the company private.

The Grifols family is working with Brookfield on a bid that would result in a takeover of the company. It is worth noting that they currently hold a 30% stake in GRFS shares.

The Grifols Board of Directors is currently reviewing the preliminary offer from the Canadian fund and the Grifols family. If all goes well, this will result in the founding family acquiring all outstanding shares of GRFS.

It is still unclear how much the Grifols family will pay per share of GRFS, but initial reports suggest that it could spend up to $5.96 billion to acquire the remaining shares of the company that it does not already own.

What this means for GRFS shares

If this deal goes through, Grifols would go from being a publicly traded company to a private company. When that happens, GRFS shares will no longer be traded on a public stock exchange.

Today’s acquisition news is bringing with it brisk trading in GRFS stock. At the time of writing, more than 6.3 million shares have changed hands, well above the average daily trading volume of about 1.2 million shares.

GRFS shares are up 19.8% since Monday afternoon.

Investors should read on to learn more about the latest stock market news!

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At the time of publication, William White had no position (either directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing guidelines.