Summary
Zoetis Inc. (ZTS) has officially completed its acquisition of Abaxis, a company specializing in in-vitro diagnostic instruments for pets and animals. This significant move, effective July 30, 2018, involved a cash transaction where Abaxis shareholders received $83.00 per share. The acquisition is a strategic step for Zoetis to enhance its diagnostics portfolio, particularly in the companion animal space. Abaxis's common stock has ceased trading on the NASDAQ. Investors should note that detailed financial statements and pro forma information for the acquired entity will be filed in an amendment to this 8-K report at a later date.
Key Highlights
- 1Zoetis Inc. has successfully completed the acquisition of Abaxis as of July 30, 2018.
- 2Abaxis shareholders will receive $83.00 in cash per share for their Abaxis common stock.
- 3The acquisition is expected to bolster Zoetis's presence and capabilities in the animal diagnostics market, particularly for companion animals.
- 4Abaxis's stock has been delisted from the NASDAQ Stock Market.
- 5Details regarding the financial statements and pro forma information for Abaxis will be provided in a future amendment to this filing.
Frequently Asked Questions
This 8-K filing announces the completion of the acquisition, but does not provide immediate financial statements of Abaxis or pro forma financial information for the combined entity. These details will be filed in a future amendment to this report, which will allow investors to better assess the financial impact.
Zoetis acquired Abaxis for $83.00 in cash per share of Abaxis common stock.
Abaxis is a company that develops and sells in-vitro diagnostic instruments, primarily for the veterinary market. The acquisition aims to strengthen Zoetis's diagnostics portfolio and expand its offerings in animal health, especially in the rapidly growing companion animal sector.
Zoetis has stated that the financial statements of Abaxis and pro forma financial information will be filed as an amendment to this 8-K report no later than 71 days after the original filing date. Investors should monitor for this subsequent filing.