Pfizer (PFE) is seeking to sell more than half of its stake or 2.50 billion British pounds ($3.05 billion) worth of shares in Haleon (HLN), multiple news outlets reported Wednesday, citing bookrunner JPMorgan (JPM).
The sale of 700 million shares at 3.57 pounds per share would lower Pfizer's stake in the UK consumer healthcare firm, which makes Sensodyne, Panadol, Centrum, and Advil, to 7.3% from 15%, Reuters reported.
Pfizer, which will continue to be Haleon's largest shareholder after the sale, said in 2023 it would reduce its stake in a "slow and methodical" manner within months, Reuters reported.
Pfizer, JPMorgan, and Haleon did not immediately reply to MT Newswires' requests for comment.
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