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Bill Ackman: Zoetis Shenanigans

Sign up for our free daily newsletter to stay in the activist investing know. You know Zoetis as the world's largest producer of medicines for animals, but it's also a plaything for Bill Ackman's Pershing Square.

The hedge fund owns about 8.5% of Zoetis and some 5% in its potential buyer Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) Pharma. Ackman has a board seat at Zoetis, received in February, and also tried previously partnering with Valeant in its bid to buy Allergen.

Valeant has been rumored to have made a preliminary offer to Zoetis for a buyout. If the issue wasn't clear - Ackman owns a stake in a company that might buy another major position of his. A corporate governance...