Pfizer: Haleon shareholding to be reduced to 24%.
The owner of the Advil, Sensodyne, Voltaren and Polident brands announced this morning that Pfizer intends to reduce its stake through a placement of 630 million shares, a transaction valued at around $2.5 billion at current share prices.
Haleon has committed to repurchasing some $400 million of this amount.
Following the placement, Pfizer will remain Haleon's largest shareholder, with a stake of around 24%, compared with 32% previously.
The US pharmaceutical giant had become the owner of a stake in Haleon following the combination, in 2019, of its OTC business with GSK's, a joint venture that the latter had decided to take public in 2022.
On the New York Stock Exchange, Pfizer shares were down 1% on Monday morning in early trading.
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