Grifols (NASDAQ:GRFS) shares fell ~6% in European trading on Tuesday as Bloomberg News reported that Brookfield Asset Management (NYSE:BAM) is considering a €6.45B ($6.9B) offer for the Spanish company,

Brookfield Asset Management is considering a €6.45 billion ($6.9 billion) bid for Grifols SA, with the drug maker’s board set to meet Tuesday to discuss the potential offer. Grifols’s shares fell.

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,

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,