GSK Sells Last Haleon Shares for $1.58 Billion
By Ian Walker
GSK said has sold its remaining stake in Haleon for GBP1.25 billion ($1.58 billion), ending its gradual disposal of shares in the company formed by a joint venture with Pfizer in 2019.
The British pharmaceutical company said Friday that it has sold 385.3 million shares in Haleon at 324 pence each as flagged late Thursday. The shares were sold via an accelerated bookbuild and the price is a 2.5% discount to Haleon's closing price of 332.40 pence on Thursday.
GSK has drawn down its stake in Haleon since last May, while U.S. pharmaceutical giant Pfizer reduced its holdings to 22.6% from 32% in March. Haleon was formed in July 2019 from the merger of GSK and Pfizer's consumer-healthcare businesses before being spun off and listed on the London Stock Exchange in July 2022.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
May 17, 2024 02:24 ET (06:24 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now