Pfizer says shareholders snap up remaining Zoetis shares

June 24 Mon Jun 24, 2013 9:36am EDT

Related News

June 24 (Reuters) - Pfizer Inc said on Monday that enough Pfizer shareholders offered to trade their shares for stock in Pfizer's majority owned Zoetis Inc animal health business to allow Pfizer to complete its spinoff of the unit.

Pfizer said all its Class A Zoetis common stock will be distributed to Pfizer shareholders who validly tendered required shares of Pfizer stock, and as a result Pfizer no longer will hold any ownership interest in Zoetis.

The drugmaker said it continues to expect the separation of Zoetis to boost Pfizer's earnings in 2014.