Mason Capital has urged Spain’s CNMV for greater transparency from Grifols amid concerns over governance and financial practices
They’re worried about some potential conflicts of interest with Grifols’ board members and how they handle related party transactions. Plus, there’s this rumor about a bond issuance that might be benefiting a Canadian fund, Brookfield, at the expense of Grifols’ shareholders.
Mason Capital is pushing for better disclosure, saying it would help all shareholders. The CNMV hasn’t said anything about the letter yet.
After Mason’s statement, Grifols’ shares dropped about 3%. Mason Capital owns around 2.5% of Grifols, so they’re definitely invested in how things turn out.
Earlier this year, Grifols faced a huge hit when Gotham City Research raised questions about their accounting and debt, causing their stock to plummet. They’ve been trying to recover since then.
Grifols has denied any wrongdoing and even sued Gotham City. They’ve made some changes in leadership, bringing in a new CEO and reassessing their debt.
In November, there was a plan for Brookfield to take over Grifols, but that fell apart over disagreements on valuation. It’s been a rocky road for them lately!
