Business Latest News: Pfizer Says Shareholders Snap up Remaining Zoetis Shares

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Business Latest News: Pfizer Says Shareholders Snap up Remaining Zoetis Shares

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Business Latest News: Pfizer Says Shareholders Snap up Remaining Zoetis Shares

by Wochit 0:54 mins

Business Latest News: Pfizer Says Shareholders Snap up Remaining Zoetis Shares

by Wochit 0:54 mins

Pfizer Inc said on Monday that enough investors had offered to trade their shares of the drugmaker for those in its majority owned Zoetis Inc animal health business, a final step in the spinoff of the unit. Hospital operator Tenet Healthcare Corp will buy smaller rival Vanguard Health Systems Inc for $4.3 billion including debt to expand into new geographies. The companies said the deal includes the assumption of $2.5 billion of debt. Stock index futures fell after the S&P 500 suffered its worst weekly decline in two months, on concerns stimulus measures by the U.S. Federal Reserve may be drawing to a close and a possible cash crunch in China.

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