Health
Pfizer Wraps Up Haleon Exit With $3.3 Billion Stake Sale
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Pfizer Inc. raised about £2.55 billion ($3.3 billion) through the sale of its remaining 7.3% stake in Haleon Plc, culminating a years-long separation from the maker of Sensodyne toothpaste.
The pharmaceutical giant offered about 618 million shares through a placement with investors, according to a Wednesday statement. The shares priced at £3.85 apiece, a 1.6% discount to Haleon’s Tuesday closing price, it said. Investor demand exceeded the size of the offering by multiple times, terms on Tuesday showed.