1st Oct 2024 10:03
(Alliance News) - Pfizer Inc sold a 7.6% stake in consumer health products firm Haleon PLC for GBP2.7 billion, the investment banks running the offer confirmed on Tuesday.
Pfizer, a New York-based pharmaceuticals firm, sold 640 million Haleon shares at 380 pence per share in a placing run by Goldman Sachs International and BofA Securities as joint global coordinators. Haleon bought back an additional 60.5 million shares from Pfizer at the same price.
As a result, Pfizer's stake in Haleon has been reduced to 15.0% from 22.6%.
Haleon shares were down 0.3% at 391.90p in London on Tuesday. It has a GBP34.73 billion market capitalisation.
Pfizer closed 0.5% lower at USD28.94 in New York but was up 0.2% to USD28.99 in the New York pre-market.
Haleon was formed from a combination of GSK PLC and Pfizer’s consumer-health units. The company manufactures products including Panadol pain relief tablets, Sensodyne toothpaste and Centrum vitamins.
By Jeremy Cutler, Alliance News reporter; updated by Tom Waite, editor
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