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| Name | Symbol | Market | Type |
|---|---|---|---|
| GSK plc | NYSE:GSK | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.21 | 0.63% | 33.56 | 17,058 | 10:07:51 |
From Nov 2019 to Nov 2024
By Chris Wack
Innoviva Inc. said it is buying back GlaxoSmithKline's equity stake in Innoviva for $392 million.
Innoviva said the 32 million shares, representing 32% of the company's outstanding common stock, will be bought back at $12.25 a share, a 3% discount to the 5-day volume weighted average price of the company's common stock.
"We view the buyback as a compelling and highly accretive transaction demonstrating our ability to act strategically and opportunistically at the same time," Chief Executive Pavel Raifeld said.
Moelis & Company acted as a financial advisor and Willkie Farr Gallagher acted as a legal advisor to Innoviva.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 20, 2021 10:08 ET (14:08 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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