ADRs fell ~6% on Tuesday after its board of directors declined to recommend Brookfield Asset Management's (NYSE:BAM) preliminary offer, which valued the Spanish company at €6.45B ($6.8B). Earlier in the day,

Grifols SA’s board of directors said it won’t recommend that shareholders accept Brookfield Asset Management’s indicative offer, which values the Spanish drugmaker at €6.45 billion ($6.8 billion).Most Read from BloombergParis to Replace Parking Spaces With TreesNew York’s Transit Agency Approves $9 Congestion TollIn Cleveland,

With Spanish plasma specialist Grifols turning down a potential multi-billion-dollar takeover bid, it’s likely back to the drawing board for Canadian private equity outfit Brookfield. | Grifols’ board of directors on Tuesday rebuffed private equity firm Brookfield’s potential 6.

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,