Mallinckrodt moving away from imaging agents with acquisition of Nellcor Puritan Bennett.
Executive Summary
MALLINCKRODT MOVING AWAY FROM IMAGING FOCUS WITH RESPIRATORY EQUIPMENT company Nellcor Puritan Bennett acquisition announced July 23. Seeking to breath new life into its health care products business, Mallinckrodt agreed to pay $28.50 per share for NPB stock, which closed July 23 at $20.94. Mallinckrodt will pay $1.82 bil. for NPB's approximately 63.8 mil. outstanding shares and another $70 mil. for NPB options. The acquisition has been approved by the boards of both companies.