Maybe Actavis Would Like To Buy Zoetis, Too?
As Bill Ackman’s dear friend Carl Icahn might say, the animal drug company is getting downright unfriendly, telling the Pershing Square chief they’d prefer he kept his stake below 15% until it can decide whether it wants to be acquired by a serial roll-up company with no future. Of course, if there’s no well-heeled white knight hanging around, it could just roll up as many companies as it can to put itself outside of Valeant’s price range.
The company said the measure is intended to protect against any takeover effort that the board “determines is not in the best interest of shareholders and does not reflect the company’s unique industry position and long term value.”
The company, a 2013 spinoff from Pfizer, said on Monday that it would buy the animal health assets of Abbott Laboratories for $255 million.
Zoetis Adopts ‘Poison Pill’ Defense [WSJ]
Zoetis to Buy Abbott’s Animal Health Assets [DealBook]
