GSK reduces stake in Haleon with $1.27 billion share sale

  • Stock Market News
GSK reduces stake in Haleon with $1.27 billion share sale
Credit: © Reuters.

LONDON - GlaxoSmithKline (NYSE: GSK ) has sold a portion of its stake in consumer health company Haleon, with the transaction valued at approximately $1.27 billion. This strategic move has reduced GSK's ownership by about 3.2%, leaving the pharmaceutical giant with a 4.2% stake in Haleon.

The sale occurred at a price lower than Haleon's closing rate on the previous day, signaling GSK's intent to divest its position in the consumer health firm. Despite the lower sale price, GSK's remaining 4.2% stake signifies it still maintains a vested interest in Haleon's business trajectory.

The financial details of the transaction were not disclosed beyond the valuation, but it represents a significant step for GSK as it adjusts its investment in Haleon. Investors and market observers are keeping a close watch on how this divestiture will impact both GSK and Haleon's market performance and strategic direction moving forward.

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