Pfizer Announces $3.3 Billion Share Sale in Haleon
Deal News | Mar 19, 2025 | Wachtell, Lipton, Rosen & Katz
Pfizer Inc. has announced the sale of approximately 618 million ordinary shares in Haleon plc to institutional investors, generating a total of $3.3 billion. This unregistered offering was executed in compliance with the exemptions under the Securities Act of 1933, with shares priced at 385 pence ($5.01) each. Additionally, Haleon will repurchase around 44 million of its shares directly from Pfizer for $220 million. The legal advisory for this transaction was provided by Wachtell, Lipton, Rosen & Katz.
Sectors
- Pharmaceuticals
- Investment Banking
- Legal Services
Geography
- United States – Pfizer Inc. is headquartered in the U.S. and operates globally, making it a key geography for this transaction.
- United Kingdom – Haleon plc is listed on the LSE and has significant operations in the U.K.
Industry
- Pharmaceuticals – Pfizer is a major player in the pharmaceutical industry, engaging in significant transactions affecting its financial structure.
- Investment Banking – The transaction involves institutional investors purchasing shares, indicative of investment banking activities in capital markets.
- Legal Services – Wachtell, Lipton, Rosen & Katz provided legal advisory services in the transaction.
Financials
- $3.3 billion – Total proceeds from the sale of approximately 618 million ordinary shares in Haleon.
- 385 pence ($5.01) per share – Price at which the ordinary shares were sold in the offering.
- 44 million shares / $220 million – Amount repurchased by Haleon from Pfizer through a share buyback.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pfizer Inc. | Vendor | Company | A global biopharmaceutical company engaged in the sale of its shares in Haleon. |
| Haleon plc | Target Company | Company | A public company in which Pfizer held approximately 618 million ordinary shares. |
| Wachtell, Lipton, Rosen & Katz | Legal Advisor | Company | The law firm providing legal advice to Pfizer in the transaction. |
| Institutional Investors | Buyer | Investor | Entities purchasing Pfizer's shares in Haleon in an unregistered offering. |