Grifols SA’s board recommended that shareholders reject Brookfield Asset Management’s indicative offer, which values the Spanish drugmaker at €6.45 billion ($6.8 billion).

Brookfield Asset Management is considering a €6.45 billion ($6.9 billion) bid for Grifols SA, with the drug maker’s board set to meet Tuesday to discuss the potential offer. Grifols’s shares fell. The transaction committee of Grifols’ board,

Grifols is anticipating a period of strong growth on the back of its recently FDA-approved intravenous immunoglobulin product Yimmugo, which it expects to become a $1 billion product within the next seven years, as well as a new bi-weekly dosing approval for Xembify and pipeline products fibrinogen and trimodulin.

Mason Capital opposes Grifols sale to Brookfield Asset Management, raising concerns about the potential acquisition in the pharmaceutical industry.

Grifols said on Tuesday that Canadian investment fund Brookfield's potential 6.45 billion euro ($6.8 billion) offer significantly undervalued the Spanish drugmaker's prospects and long-term potential,