Stocks in London are expected to open lower as investors consider the latest remarks from the US Federal Reserve. The Fed is making progress in its fight against inflation, but opinions differ on the chances of another interest rate hike [626cdb32]. Former UK foreign secretary William Hague has expressed concern over the sale of the Daily Telegraph to a UAE-based investment fund [626cdb32]. Hargreaves Lansdown has named Alison Platt as its new chair, replacing Deanna Oppenheimer [626cdb32]. Pennon Group reported a drop in interim profit but raised its dividend [626cdb32]. Charlie Munger, longtime business partner of Warren Buffett, has died at the age of 99 [626cdb32]. Inkjet printing technology firm Xaar expects weaker demand and lower revenue due to challenging trading conditions [626cdb32]. The UK Competition & Markets Authority will review competition in the groceries sector and examine the dynamics in the baby formula market [626cdb32].
Grifols SA, a Barcelona-based pharmaceutical producer, has announced that its founding family and asset manager Brookfield have made an approach to buy and delist the company [817f1e74]. The offer comes after Grifols removed all family members from executive positions and hired an outsider as CEO in response to a short-seller attack that caused a significant loss in market value [817f1e74]. Grifols' shares rose by as much as 14.5% after the announcement [817f1e74]. The potential acquisition by Brookfield reflects private equity's growing interest in blood plasma products [817f1e74].
The Grifols family, the largest shareholder of Spanish healthcare group Grifols, is in talks with Brookfield Asset Management about a potential deal to take the company private [3988ce56]. The discussions are at an early stage and no agreement has been reached [3988ce56]. Grifols is a global healthcare company that specializes in the production of plasma-derived medicines [3988ce56]. The company has a market capitalization of around €11.5bn ($13.6bn) and is listed on the Spanish stock exchange [3988ce56]. Brookfield Asset Management is a global alternative asset manager with over $600bn in assets under management [3988ce56]. The potential deal comes as Grifols faces challenges in its core plasma business due to the Covid-19 pandemic and increased competition [3988ce56].