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Zoetis to use existing cash, new debt for $2 billion Abaxis purchase
By Devika Patel
Knoxville, Tenn., May 16 – Zoetis Inc. plans to use a combination of existing cash and new debt to fund its planned $2 billion acquisition of Abaxis, Inc.
The company will pay $83 per share in cash.
The transaction is expected to close before the end of 2018.
Zoetis is a Parsippany, N.J. maker of vaccines and medicines for animals. Abaxis is a Union City, Calif. maker of portable blood analysis systems for humans and animals.
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