In July, GSK will spin off its consumer health division to existing shareholders on a 1 for 1 basis.
Haleon will find interest among institutional investors seeking more pure exposure to consumer products healthcare.
Gross revenues at the Haleon division were roughly $11.5 billion US in 2021, which makes the company considerably 2/3 the size, in terms of sales, as Colgate Palmolive. Operating profits at Colgate were roughly 19.1% in 2021 while at Haleon, margins were 23.3%.
Taking into account the differential in revenues and the higher operating margins associated at Haleon, a potential valuation for the spinoff could indicate a range of roughly $40 billion USD upon separation.
https://www.sec.gov/Archives/edgar/data/0001900304/000119312522165042/d192829d20fr12b.htm
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