GlaxoSmithKline has opted for a demerger to execute the much-anticipated separation of its Consumer Healthcare business from its biopharma operation as this route best maximizes shareholder value, according to CEO Emma Walmsley.
At an investor event on 23 June, Walmsley set out plans to demerge at least 80% of GSK’s 68% holding in its Consumer Healthcare joint venture with Pfizer to GSK shareholders, with the new Consumer Healthcare company shares expected to attain a premium listing on the London Stock Exchange, and American Depository Receipts (ADRs) to be listed in the US
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