OK G-Dub, educational opportunity?
I just received this offer:
Pfizer Inc. is offering to exchange up to 400,985,000 shares of Zoetis Class A common stock (which Pfizer currently owns) for outstanding shares of Pfizer common stock.
For each $100 of your Pfizer common stock accepted, shareholders will receive approximately $107.52 of Zoetis common stock, subject to the upper limit of 0.9898 of a share of Zoetis stock per share of Pfizer stock. The value of the shares will be based on the volume weighted average price (VWAP) for the stock on the NYSE during the three days up to and including the expiration date. Cash will be paid in lieu of fractional shares.
If the offer is oversubscribed, shares tendered will be accepted on a pro rata basis. However, the Company will accept all shares tendered by holders who hold an aggregate of 99 shares or less and tender all of their shares. For purposes of this offer, aggregate is defined as the combined total number of shares held by a beneficial owner; this includes shares held in separate accounts registered to the same beneficial owner. Submitted instructions for holders that beneficially own an aggregate of 100 shares or more will be subject to proration.
The offer is conditioned upon, among other things, the Minimum Amount Condition, opinions of counsel regarding non-recognition of gain and loss for tax purposes, the continued validity and effectiveness of the private letter ruling from the IRS and other customary conditions. The Company reserves the right to amend, extend or terminate the offer.
If you wish to participate in the offer, you must deliver your response to Schwab. If you have any questions regarding the offer or for a copy of the prospectus, please contact Georgeson Inc. (the Information Agent) directly at (866) 628-6024.
Your Choices:
Exchange: Exchange all or a portion of your Pfizer shares, subject to proration.
Decline/Take No Action: If you do not wish to participate in this offer, no further action is required and you will continue to hold your Pfizer shares.
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PFE - .24 dividend - Human pharmaceuticals
ZTS - .064 dividend - Animal pharmaceuticals
PFE division spin-off.
I'm holding 208 shares of PFE..........
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