Business
Update on off-market purchase alongside Pfizer
Update on off-market purchase alongside Pfizer.
About this update from Haleon Plc
[{"type":"text","content":"\n\n\n \nHaleon plc: Update on off-market purchase alongside Pfizer Inc. offering\n \n19 March 2025: Further to its announcement on 18 March 2025, Haleon plc (the \"Company\" or \"Haleon\") (LSE/NYSE: HLN) has agreed to make an off-market purchase of 44,155,844 ordinary shares of £0.01 each of the Company from Pfizer Inc. (\"Pfizer\") pursuant to the terms of the share purchase deed entered into between Haleon and Pfizer that was previously approved by Haleon's shareholders.\n \nThe off-market purchase is being made in conjunction with, and subject to the completion of an offering by Pfizer to institutional investors, the results of which have been announced by Pfizer today. The purchase price payable by Haleon to Pfizer for the off-market purchase is £3.85 per ordinary share and the total consideration payable will be approximately £170 million.\n \nThe off-market purchase represents a portion of the £500 million allocated to share buybacks in 2025 announced on 27 February 2025. The purchased ordinary shares will be cancelled.\n \nOn completion of the off-market purchase and Pfizer's offering to institutional investors, Pfizer's interest in Haleon's issued ordinary shares with voting rights is expected to reduce from approximately 7.3% to nil.\nBrian McNamara, Chief Executive Officer of Haleon commented: \"Today's transaction is an important milestone for the business and marks Pfizer fully exiting its stake in Haleon, having been at 32% at the time of demerger in July 2022. Our participation in the offering is consistent with our disciplined capital allocation priorities, and supports our commitment to deliver attractive returns for shareholders, underpinned by a strong investment grade balance sheet. Nearly three years on from demerger, Haleon is in a position of strength and is well placed to capitalise on the significant opportunities ahead.\"\nThe Company will make a further announcement upon completion of the off-market purchase.\nAmanda Mellor \nCompany Secretary \n \nEnquiries\n \n\n\n\n\nInvestors\n\n\nMedia\n \n\n\n\n\nJo Russell \n\n\n+44 7787 392441\n\n\nZoë Bird\n\n\n+44 7736 746167\n\n\n\n\nRakesh Patel \n\n\n+44 7552 484646\n\n\nVictoria Durman\n\n\n+44 7894 505730\n\n\n\n\nEmma White\n\n\n+44 7823 523562\n\n\n\n\n\n\n\n\n\n...