Deals
Grifols Buys Biotest as Creat Pushed to Exit Blood-Plasma Stakes
- Spanish firm bids about $1.9 billion for German company
- Chinese firm may also sell U.K. BPL business in coming weeks
Source: Biotest AG
This article is for subscribers only.
Grifols SA agreed to buy Biotest AG for about 1.6 billion euros ($1.9 billion), pouncing after U.S. regulators pushed back on Chinese shareholder Creat Group Corp.’s expansion into the blood-plasma industry.
Grifols offered 43 euros for each ordinary share and 37 euros for each preferred share, the Spanish company said Friday. That’s 23% and 4.2% higher than Thursday’s closing prices, respectively. Bloomberg News reported late Thursday that the deal was imminent.