Mallinckrodt and Endo to Merge in $6.7 Billion Deal

The merger will create a new pharmaceutical entity with a global footprint, expected to list on the NYSE and generate significant cost synergies.

Mallinckrodt will acquire Endo in a cash-and-stock deal, with Endo shareholders receiving $80 million in cash and owning 49.9% of the combined company.
The newly formed company will have a pro forma enterprise value of $6.7 billion and is expected to generate $3.6 billion in revenue and $1.2 billion in adjusted EBITDA in 2025.
The merger aims to combine Mallinckrodt's and Endo's generic pharmaceutical and sterile injectables businesses, with plans to separate this unit in the future.
The transaction, approved by both boards, is anticipated to close in the second half of 2025, pending shareholder and regulatory approvals.
The merged entity will be headquartered in Dublin but maintain a significant U.S. operational presence, employing around 5,700 people across 17 manufacturing sites and 30 distribution centers.