Pfizer Inc. (PFE) Mulls $3 Billion Partial IPO for Animal Healthcare Unit: Report
2/21/2012 8:12:09 AM
Pfizer plans to raise about $3 billion this year through a part-flotation of its animal health division, the Financial Times reported on Sunday. The pharmaceuticals group [PFE 21.18 -0.01 (-0.05%) ] has been in discussions with bankers over an initial public offering that would look to place up to 19.9 percent of the unit’s shares in the autumn, according to people familiar with the talks, cited by the newspaper. The giant drug company is examining the best way to spin off the division valued at about $18 billion, the article published on the FT's website said.