Brookfield Asset Management Ltd. walked away from a plan to acquire Grifols SA, ending months of negotiations to take over the Spanish blood-plasma company.

Brookfield Asset Management Ltd. is preparing to walk away from a plan to acquire Grifols SA over disagreements on valuation. The Spanish company’s billionaire founding family said it won’t support any new bid to take its namesake drug-maker private.

Canadian fund Brookfield has dropped its plan to take over Spain's Grifols due to a disagreement over the pharmaceutical company's value, a spokesperson for the Grifols family told Reuters on Wednesday.

Grifols share price dropped by more than a tenth on Wednesday on reports that suitor Brookfield was considering dropping its planned takeover of the Spanish healthcare group.

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,

Shares in Grifols were falling on Wednesday morning after Bloomberg reported Canadian fund Brookfield is considering dropping its plan to take over the Spanish pharmaceutical firm. The Canadian private equity firm is walking away on disagreement on the company's value,

Grifols (GRFS) stock dropped as Brookfield Asset Management (BAM) is reportedly withdrawing its offer to take the plasma therapeutics company private. Read more here.