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GSK Gsk Plc

1,355.50
-8.00 (-0.59%)
Last Updated: 14:35:20
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gsk Plc LSE:GSK London Ordinary Share GB00BN7SWP63 ORD 31 1/4P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -8.00 -0.59% 1,355.50 1,355.00 1,355.50 1,370.00 1,355.00 1,365.00 2,900,752 14:35:20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Pharmaceutical Preparations 30.33B 4.93B 1.1889 11.44 56.52B

Innoviva Buys Back GlaxoSmithKline's Stake for $392 Million

20/05/2021 3:23pm

Dow Jones News


Gsk (LSE:GSK)
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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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