Financings in Brief: Mallinckrodt
This article was originally published in The Gray Sheet
Executive Summary
Mallinckrodt: Plans to expand its ongoing share repurchase program by $250 mil. "to share proceeds" with shareholders from the divestiture of its animal health business. Mallinckrodt announced July 1 that it completed the sale of its animal health business Mallinckrodt Veterinary to Schering-Plough for $405 mil. in cash. Mallinckrodt, which announced its decision to sell the veterinary business in August 1996, unveiled plans for the sale to Schering-Plough in May...