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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 |
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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