05:17 AM EDT, 10/01/2024 (MT Newswires) -- Pfizer ( PFE ) is selling about 701 million common shares of Haleon ( HLN ) for gross proceeds of approximately 2.66 billion pounds ($3.57 billion), reducing its stake in the company to 15% from about 22.6%, according to a Tuesday filing.

The total amount includes an offering in which Pfizer ( PFE ) sold 640 million Haleon ( HLN ) common shares for gross proceeds of about 2.43 billion pounds, as well as Haleon's ( HLN ) off-market purchase of about 60.5 million common shares from Pfizer ( PFE ) for consideration of about 230 million pounds, both priced at 380 pence per share.

The offering is expected to settle on Thursday.

Price: 28.93, Change: -0.01, Percent Change: -0.03