Mallinckrodt plc and Endo, Inc. (NDOI) have secured the necessary shareholder approvals to proceed with their merger, a stock-and-cash transaction aimed at forming a global, diversified pharmaceutical leader.
With this approval, Mallinckrodt will now seek confirmation of the scheme of arrangement from the Irish High Court, with a sanction hearing expected in July. Subject to court approval and other closing conditions, the companies aim to finalise the merger shortly after the hearing. The combined entity will have its global headquarters in Dublin, Ireland.
Friday NDOI closed at $20.9 or 1.65% lower on the OTC Markets OTCQX.
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