Zoetis To Acquire Abaxis For $83 Per Share, Or Approximately $2B In Aggregate

Zoetis Inc.( ZTS) and Abaxis, Inc.( ABAX) announced a definitive merger agreement pursuant to which Zoetis will acquire Abaxis, a leader in the development, manufacture and marketing of diagnostic instruments for veterinary point-of-care services for $83 per share in cash, or approximately $2B in aggregate.

The acquisition is expected to enhance Zoetis' presence in veterinary diagnostics, a category of the animal health industry with approximately 10% compound annual growth over the last three years.