Pfizer Announces Zoetis Split-Off

Skadden is representing Pfizer Inc. in the split-off of its remaining 80 percent interest in Zoetis Inc. through an exchange offer, announced on May 22. Pfizer's interest in Zoetis is valued at approximately $13.4 billion. The firm previously advised Pfizer in the IPO of Zoetis, formerly the company's animal health business, which was completed in February 2013.