William Ackman, founder of hedge fund management company Pershing Square Capital Management, is unloading 16.85 million shares from Zoetis, the largest producer of animal medicine in the world.
Ackman will sell each share for $46.75 to $47, the New York Times said, citing two insiders familiar to the matter. The transaction’s value will total to around $800 million, leaving Pershing Square with 25 million shares in Zoetis. Credit Suisse and Bank of America Merrill Lynch will supervise the sale.
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