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GSK Gsk Plc

1,707.50
2.50 (0.15%)
Last Updated: 12:10:41
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
  2.50 0.15% 1,707.50 1,707.50 1,708.50 1,711.00 1,695.50 1,705.00 976,332 12:10:41
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Pharmaceutical Preparations 30.33B 4.93B 1.1970 14.19 69.93B

Theravance to Buy GSK's Stake as Part of $250 Million Buyback

19/09/2022 11:47am

Dow Jones News


Gsk (LSE:GSK)
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By Colin Kellaher

 

Theravance Biopharma Inc. on Monday said it plans to buy back $250 million in stock through a three-step process.

The biopharmaceutical company, which has about 76.4 million shares outstanding and sports a market capitalization of nearly $770 million, said it agreed to buy the roughly 9.6 million shares held by U.K. pharma major GSK PLC for $9.75 apiece, a 3% discount to Friday's closing price of $10.07.

GSK, with a 12.6% stake, is Theravance's second-largest shareholder, according to data from FactSet.

Theravance also said it plans to launch a Dutch auction tender offer in the near term to buy back about $95 million worth of stock, followed by about $60 million in open-market repurchase, adding that it aims to complete the program by the end of next year.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 19, 2022 06:32 ET (10:32 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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