Ruling nears in Austrian fraud trial of property tycoon Benko
The insolvency-related fraud trial of fallen Austrian property tycoon Rene Benko entered its second day on Wednesday, with a ruling expected in the af...
Drugmaker Pfizer has sold its entire stake in consumer healthcare firm Haleon for approximately 2.5 billion pounds (roughly $3.24 billion), according to sources involved in the transaction.
The deal was executed at a price of 385 pence per share, with institutional investors and Haleon purchasing the shares.
Under the agreement, Haleon – known for brands such as Sensodyne, Panadol, and Advil – will buy back 44 million shares from Pfizer, which was its largest shareholder, while 618 million shares are being sold to institutional investors. This sale represents 7.3% of Haleon’s issued share capital. Haleon was established following the merger of GSK and Pfizer's consumer healthcare businesses in 2019 and was spun off from the British drugmaker in 2022.
Following Pfizer’s divestiture, BlackRock Investment Management (UK) Ltd, a unit of BlackRock, is set to become Haleon’s largest shareholder, holding more than a 5% stake, according to data compiled by LSEG. The deal was coordinated by a team that includes BofA Securities, Citigroup Global Markets Limited, and Goldman Sachs International as joint global coordinators, with Barclays and Deutsche Numis acting as joint bookrunners.
Earlier, GSK – which initially held nearly a 13% stake in Haleon – completed its full exit in May 2024. Haleon, which also manufactures popular painkillers, indicated in February that its revenue and profit growth in 2025 would be weighted towards the second half of the year.
The divestiture underscores Pfizer's strategic decision to refocus its portfolio while enabling Haleon to consolidate its shareholder base as it continues to drive growth in the competitive consumer healthcare market.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
Wall Street closed sharply higher on Monday, led by gains in Broadcom and other chipmakers, as investors were reassured by U.S. President Donald Trump’s conciliatory tone on renewed U.S.-China trade tensions.
Lawyers warn that the case could eventually involve up to 1.8 million UK drivers across 14 brands, potentially making it the largest consumer class action in British legal history.
European stock markets opened the week on a positive note, buoyed by hopes of easing trade tensions between the U.S. and China and declining geopolitical risks in the Middle East.
A federal jury in Marshall, Texas, ruled on Friday that Samsung Electronics must pay nearly $445.5 million in damages to patent holder Collision Communications for infringing patents linked to 4G, 5G, and Wi-Fi communication standards.
Gold prices rose above $4,000 an ounce for the first time on Wednesday, fuelled by investor demand for safe-haven assets amid rising geopolitical tensions and expectations of U.S. interest rate cuts.
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