$Pfizer (PFE.US)$ Pfizer (PFE) is selling about 701 million ...
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 sold 640 million Haleon common shares for gross proceeds of about 2.43 billion pounds, as well as Haleon's off-market purchase of about 60.5 million common shares from Pfizer for consideration of about 230 million pounds, both priced at 380 pence per share.
The offering is expected to settle on Thursday.
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Deep Sea OP : The company will have more cash on hand![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
70523852 : Why sold so much shares?
70523852 : I guess my question is why would PFE want to sell so much shares of HLN. HLN still offers dividends. Since they sold them, wouldn’t that lower their future income? I can’t find any explanation on the purpose behind such a huge sell.
Deep Sea OP 70523852 : HLN got low dividend yield of less than 2%. Maybe PFE needs some cash to fund future acquisition of other companies.
70523852 Deep Sea OP : Got it.
Thank you!
MonkeyGee : that's going to look good for next quarter