83.11 +0.11 (0.14%)
After hours: 4:11PM EDT
|Bid||82.80 x 4000|
|Ask||83.21 x 800|
|Day's Range||82.92 - 83.78|
|52 Week Range||43.66 - 83.98|
|PE Ratio (TTM)||76.85|
|Earnings Date||Jul 25, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||0.72 (1.02%)|
|1y Target Est||64.63|
Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of Abaxis, Inc. (ABAX) by Zoetis Inc. (ZTS). On May 16, 2018, the two companies announced the signing of a definitive merger agreement pursuant to which Zoetis will acquire Abaxis. Under the terms of the agreement, Abaxis shareholders will receive $83.00 in cash for each share of Abaxis common stock.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling the Peaks (Stocks hitting 52-week highs on May 17) Abaxis Inc (NASDAQ: ABAX ) (rallying for second straight session ...
WeissLaw is investigating whether ABAX's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $90.00 per share, or $7.00 above the offer price. Additionally, ABAX recently announced positive financial results. It reported revenue of $67.9 million, representing an increase of 17% when compared to the figures reported in the same period of the previous year.
Post takeover of Abaxis' (ABAX) point-of-care diagnostic instruments, Zoetis expects the consolidated company's veterinary diagnostics category to speed up growth over the animal health industry.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling the Peaks (Biotech Stocks Hitting 52-week highs on May 16) Abaxis Inc (NASDAQ: ABAX ) (announced a deal to be bought ...
Shares of Abaxis hit an all-time high however after Wall Street learned that top animal health company Zoetis would be acquiring Abaxis for $83 a share. Abaxis, Inc. shares closed up 16.15% on Wednesday and hit an all-time high of $83.78 during intra-day trading. It was an exciting day for the company after it was announced that top animal health company Zoetis would be acquiring it for $1.9 billion.
BALA CYNWYD, PA / ACCESSWIRE / May 16, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Abaxis, Inc. ("Abaxis" or "the Company") (NASDAQ:ABAX News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Zoetis Inc. ("Zoetis"). Under the terms of the transaction, Abaxis shareholders will receive only $83.00 in cash for each share of Abaxis stock they own. The investigation concerns whether the Board of Abaxis breached their fiduciary duties to shareholders and whether Zoetis is underpaying for the Company.
Animal-health company Zoetis Inc. has agreed to buy Abaxis Inc., a maker of veterinary-diagnostics equipment, in a deal valued at about $2 billion. Zoetis has offered $83 a share in cash for Abaxis, about a 16% premium to Abaxis’s closing price Tuesday. The companies said Wednesday the deal would grow Zoetis’s presence in veterinary diagnostics, a sector that has had an annual compound growth rate of about 10% for the past three years.
The following statement is being issued by Levi & Korsinsky, LLP:
** Buyout fund CVC Capital Partners held talks with Italian drugmaker Recordati over a possible 8 billion euro ($9.4 billion) takeover, but has put the deal on hold due to concerns about the hefty price tag and political uncertainty, three sources familiar with the matter said. ** Kuwait's Noor Financial Investment said on Wednesday a foreign financial firm has shown interest in buying part of its stake in Pakistan's leading Islamic lender Meezan Bank. ** Saudi British Bank (SABB) and Alawwal Bank have agreed a merger to create Saudi Arabia's third-biggest lender, in a $5 billion deal that marks the first major banking tie-up in the kingdom in two decades.
Moody's Investors Service commented that Zoetis Inc.'s (Zoetis, Baa1 stable) plans to acquire Abaxis, Inc. (unrated), for $2 billion is credit negative. There is no impact on Zoetis' Baa1 senior unsecured rating, Prime-2 short term rating, or the stable rating outlook. For additional information please refer to Moody's Issuer Comment on Zoetis Inc. available on www.moodys.com.
The deal announced Wednesday reflects Zoetis' expectation that the diagnostics category will grow at a faster pace than the broader animal health industry. Abaxis — which makes blood and urine tests to predict, detect and treat diseases such as heartworm, Lyme disease or tick-borne infections — will also help its New Jersey-based acquirer bolster its presence in overseas markets. Zoetis faces much lesser competition internationally than in the United States, its Chief Executive Officer Juan Alaix said on a conference call with analysts.
Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Abaxis, Inc. (ABAX) stockholders concerning the proposed acquisition of the company by Zoetis Inc. (ZTS). Our investigation concerns whether Abaxis’s board of directors failed to adequately shop the Company and obtain the best possible value for its stockholders before entering into a definitive merger agreement with Zoetis.
Do you own shares of Abaxis, Inc. (NASDAQ GS: ABAX)? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Abaxis, Inc. (“Abaxis” or the “Company”) (NASDAQ GS: ABAX) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Zoetis Inc. (“Zoetis”) in a transaction valued at approximately $2.0 billion.
The deal will have Zoetis Inc spending a total of $2 billion in cash to acquire Abaxis Inc. This values ABAX stock at $83 per share. Zoetis Inc. says that its acquisition of Abaxis Inc will allow it to strengthen its business in the veterinary diagnostics market.
Zoetis Inc. ( ZTS), a top animal healthcare company, plans to buy veterinary diagnostics company Abaxis Inc. ( ABAX) in a $2.0-billion deal, the companies announced today. New Jersey-based Zoetis, which has more than $5 billion in annual revenue, is aiming for a larger market share in the veterinary diagnostics services industry, which is currently a small portion of its total sales. It expects Abaxis, which provides tools to detect animal diseases, will add to its earnings by next year.
NEW YORK , May 16, 2018 /PRNewswire/ -- Rowley Law PLLC is investigating potential claims against Abaxis, Inc. (NASDAQ: ABAX) and its board of directors for breach of fiduciary duty concerning the proposed ...
The following statement is being issued by Levi & Korsinsky, LLP:
SAN DIEGO , May 16, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Abaxis, Inc. (NASDAQ: ABAX) ("Abaxis") ...
Zoetis Inc (NYSE: ZTS), an animal health company, announced a deal to acquire Abaxis Inc (NASDAQ: ABAX), a developer of portable blood analysis systems used in human or veterinary patient care, for $83 per share in cash or a total of $2 billion. This represented a 15.8 percent premium over the $71.75 percent at which Abaxis closed Tuesday's session. Reacting to the announcement, shares of Abaxis were rallying 14.91 percent to $82.45 in pre-market trading.
Animal health company Zoetis Inc said on Wednesday it would buy Abaxis Inc, a maker of veterinary diagnostic instruments, for about $1.9 billion in cash to bolster its position in the fast-growing diagnostics market. Zoetis has offered Abaxis $83 per share, a premium of 15.7 percent to its closing price on Tuesday. The transaction will add to Zoetis' earnings next year and the company will fund the purchase through cash and new debt.