Grifols Class B Stock Falls as Brookfield Seeks Discount (1)

A profitable arbitrage trade on the planned acquisition of Spanish blood-plasma company Grifols SA got upended Thursday.

The company’s Class B shares slumped after Spanish newspaper Expansion reported that Canadian asset manager Brookfield is seeking to pay a lower price for that series of stock in its planned bid for Grifols.

Since news broke in July that Brookfield and the Grifols family were teaming up to take the company private, traders have been betting that the two classes of stock — the voting Class A and the Class B, which generally don’t have voting rights — would fetch the ...