Investors Crow For Shares Of Zoetis As It Begins Trading On The NYSE
This article was originally published in The Pink Sheet Daily
Zoetis makes its debut on the public stock exchange, garnering the highest priced IPO since Facebook began trading last year.
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Valeant investment partner William Ackman takes a stake in animal health company Zoetis in what could be a move to change strategies as Allergan continues to oppose Valeant’s offer.
$5.4 billion deal boosts Lilly’s Elanco animal health business that adds both geographic scope and better product mix, but some investors snort at the high multiple.
Earn-outs and other deal tools help bridge value gaps and share risk, enabling more deals to be finalized, report says. However, pharma is seeing increased M&A competition from biotechs looking to diversify and increase scale.