Pfizer, following its Launch Announcement on September 30, 2024, has successfully sold 640 million ordinary shares in Haleon plc at a price of 380 pence per share. This transaction has resulted in gross proceeds of approximately £2.43 billion. Settlement for the sale is anticipated on October 3, 2024. It is important to note that Pfizer will receive all the net proceeds from this offering, with no shares being sold or issued by Haleon.
Additionally, Haleon has agreed to an off-market purchase of approximately 60.5 million shares from Pfizer for a total consideration of around £230 million. The buyback price per share stands at 380 pence. Settlement for this transaction is also expected to occur on October 3, 2024.
In total, Pfizer will garner gross proceeds of about £2.66 billion from both the offering and the share buyback. Consequently, Pfizer will have sold approximately 701 million shares in Haleon. The company's total ownership in Haleon will decrease from approximately 22.6% to around 15.0% of Haleon's issued share capital.
Brian McNamara, CEO of Haleon, stated, "Our purchase of shares from Pfizer will successfully deliver on our commitment to return £500 million to shareholders through share buybacks this year."
