Brookfield has resumed takeover discussions with Spanish pharmaceutical group Grifols, according to Spanish news outlet El Confidencial, sparking an 11% surge in the company’s share price during early Wednesday trading.

The Canadian investment firm is reportedly considering a bid that would value Grifols at €7bn ($7.55bn), with Morgan Stanley acting as adviser. This follows a previously withdrawn non-binding €6.7bn offer made last November, which was rejected by Grifols management for undervaluing the company.

The Grifols family, which holds the largest stake in the business, has declined to comment on the renewed talks. Brookfield and Morgan Stanley have not responded to requests for comment.

Grifols shares climbed to €9.03 following the report, while Spain’s IBEX35 index remained flat.