- Mallinckrodt Plc Dl -,20
- 13 March 2025 13:39:18
Source: Sharecast
Under the terms of the agreement, Endo shareholders will receive $80m in cash and will own 49.9% of the combined company on a pro forma basis, while Mallinckrodt shareholders will own the rest.
Mallinckrodt will continue as the holding company for the combined business and Endo will become a wholly-owned subsidiary of Mallinckrodt.
Mallinckrodt president and chief executive Siggi Olafsson said: "The combination of Mallinckrodt and Endo brings together two essential pharmaceuticals organisations to accelerate value creation for our shareholders, customers, employees, the patients we serve and our other stakeholders.
"Our businesses are highly complementary, with durable, on-market products in our branded portfolios and extensive capabilities across the value chain in our generics businesses. This exciting combination will create a larger and more diversified entity with the scale and resources needed to unlock the full potential of both companies.
"Additionally, with a strong pro forma balance sheet and compelling synergy opportunities, we will have greater flexibility to invest in innovation and pursue growth opportunities. Endo and Mallinckrodt both have talented teams that put patients first, and I look forward to bringing our organizations together to achieve even greater success."
