Grifols said it plans to outline its strategy as a standalone company after Brookfield Asset Management dropped out of talks for a 6.45 billion-euro ($6.82 billion) takeover bid.The Spanish pharmaceutical company said late Wednesday that it would soon schedule an investor update at which it would present its strategy under new leadership and its plans to unlock growth opportunities.

The Spanish pharmaceutical company said it considered Brookfield’s offer of 10.50 euros a share undervalued the company and its prospects

Canadian fund Brookfield said on Wednesday it has dropped its plan to take over Spain's Grifols due to a disagreement over the pharmaceutical company's value, while Grifols said it concurred with the decision.

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,

Shares of Grifols GRFS lost over 7% on Wednesday after the company announced that Canada-based Brookfield Asset Management has withdrawn its plan to acquire it. Both parties likely failed to arrive at a common ground over 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.