Pfizer in its sale of 640 million ordinary shares in Haleon to institutional investors

On October 1, 2024, Pfizer Inc. (NYSE: PFE) announced the sale of 640 million ordinary shares in Haleon plc (LSE/NYSE: HLN) to institutional investors (the “Offering”) in an unregistered offering pursuant to exemptions from registration under the Securities Act of 1933, at a price of 380 pence ($5.09) per ordinary share.  In connection with the Offering, Haleon will also repurchase approximately 60.5 million ordinary shares having an aggregate value of approximately £230 million ($308 million) directly from Pfizer (the “Share Buyback”).

The aggregate amount of the Offering and Share Buyback is approximately £2.66 billion ($3.57 billion) and will reduce Pfizer’s ownership of Haleon shares from approximately 22.6% to 15%.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Pfizer.