Pfizer (PFE) Said to Plan IPO of Animal-Health Unit in Early FY13
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Pfizer (NYSE: PFE) shares are ticking higher in late trading Thursday, amid new talk surrounding the IPO of Zoetis.
According to the WSJ, Pfizer is planning to take Zoetis -- Pfizer's animal0-health unit -- public in January or February 2013. The IPO is expected to price somewhere around $4 billion.
Pfizer is running low on options for Zoetis; its $20 billion valuation is priced out of many potential buyers range. Pfizer attempted to divest the unit last year, saying animal-heath products didn't gel with its human-health focus.
Shares are modestly higher after hours.
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According to the WSJ, Pfizer is planning to take Zoetis -- Pfizer's animal0-health unit -- public in January or February 2013. The IPO is expected to price somewhere around $4 billion.
Pfizer is running low on options for Zoetis; its $20 billion valuation is priced out of many potential buyers range. Pfizer attempted to divest the unit last year, saying animal-heath products didn't gel with its human-health focus.
Shares are modestly higher after hours.
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