Haleon: 60.5 million shares bought back from Pfizer

(CercleFinance.com) - Haleon announced on Tuesday that it had bought back from Pfizer some 60.
5 million ordinary shares making up its own capital for around £230 million (around E275 million).

The British consumer healthcare company, a former joint subsidiary of GSK and Pfizer, says the off-market transaction was carried out on the basis of a unit price of 380 pence.

By way of comparison, Haleon's share price closed at 392.9 pence last night.

Of the amount repurchased, the company plans to cancel some 30.2 million shares, for a total consideration of 114.6 million pounds, which leads it to consider that its recent share buyback program has now been completed.

The transaction is part of a wider placing completed by Pfizer with major institutional investors, involving a total of 540 million Haleon shares, or 5.9% of the capital, for some 2.1 billion pounds (2.5 billion euros).

As a result of these transactions, Pfizer's stake in Haleon is expected to fall from 22.6% to 15%.

Listed on the London Stock Exchange, Haleon shares were down 0.3% on Tuesday morning in the wake of these announcements.

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