Money!! Me too. Thinking of doing half my holding. However if you are not committed to holding ZTS and get out of it quickly you will have tax consequences. Also it would seem as though the 7% implied premium in the deal could quickly erode as arb players exit both positions. Don't really know Not an easy choice. Key I guess is that you must really like the business and believe that they have good mgt who will do even better with Pfe not calling shots. Dividend is lower on ZTS and balance sheet carries more debt which is something of an issue as rates will rise this year and into next.