Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) advised Haleon on the $3.1 billion underwritten secondary global offering (the ‘Global Offer’), by its largest shareholder, Pfizer, of 790,554,820 Haleon ordinary shares (including American Depositary Shares).

In conjunction with the Global Offer, Haleon completed an off-market purchase of 102,272,727 ordinary shares from Pfizer for approximately $400 million (the “Share Buyback”). The Share Buyback was made pursuant to the terms of a share purchase deed between Haleon and Pfizer which was approved by Haleon’s shareholders at its AGM in 2023. The Share Buyback and the Global Offer closed on 21 March 2024.  Following closing of the Share Buyback and the Global Offer, Pfizer's ownership interest in Haleon reduced from 32 per cent to 22.6 per cent.

The Freshfields team was led by global transactions partners Samira Afrasiabi, Tom Godwin and Julian Long, with support from associate Chloe Coleman, senior associate Toby Holborow and associate Yoel Gordon. Tax advice was provided by partner May Smith, senior associate Samuel Withnall and associate Robert Jones.

The internal Haleon legal team was led by Charles Atkinson (Vice President, Head of Corporate Legal), Katie Salmon (Assistant General Counsel) and Sandra Humphrey (Assistant General Counsel). The Haleon corporate secretariate team was led by Amanda Mellor (Group Company Secretary), Matthew Conacher (Deputy Company Secretary) and Nick Ivory (Assistant Company Secretary).