Zoetis to sell medicated feed additive portfolio to Phibro in $350 mln deal
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Zoetis Inc will sell its medicated feed additive portfolio and certain other assets to Phibro Animal Health in a $350 million deal. The agreement also includes some of Zoetis' water soluble products and manufacturing sites. The transaction will involve over 300 Zoetis employees transitioning to Phibro Animal Health. The deal will be funded primarily with debt and is expected to be accretive to Phibro's earnings per share and profitability.
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