Pfizer to sell 7.7% stake in Haleon for potential $3.1 billion, Bloomberg reports

Investing.com — Pfizer Inc. (NYSE:PFE) is planning a significant share sale in Haleon Plc, the company known for making Sensodyne toothpaste, Bloomberg reported on Tuesday.

The pharmaceutical giant is offering approximately 700 million shares, which amounts to a 7.7% stake in Haleon, the report said.

According to the terms of the deal seen by Bloomberg, Pfizer is aiming to raise about £2.6 billion ($3.1 billion) through an accelerated placement with investors.

This is not the first time Pfizer has sold shares in Haleon. The company made similar transactions throughout last year.

The sale of these shares is expected to boost Pfizer’s financial position, although the specific use of the funds has not been disclosed.

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