News that hedgie Bill Ackman took a stake in animal drugmaker Zoetis sent the stock soaring during the last half hour of trading Tuesday.
Ackman’s Pershing Square and one of his protégés, Scott Ferguson, amassed a 10 percent stake in the company but have not yet reported the stake.
Zoetis shares jumped almost 9 percent, to close at $43.72.
The company, which focuses on animal health-care drugs, was spun out of Pfizer last year.
Pershing Square was scrambling Tuesday night to respond to the leaked news.
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