Boston, MA 04\/10\/2014 (wallstreetpr) –\u00a0Questcor Pharmaceuticals Inc <\/b>(NASDAQ:QCOR)<\/b> along with Mallinckrodt PLC <\/b>(NYSE:MNK) <\/b>made an announcement on April 7, 2014 that the two firms have signed a definite merger agreement with each other. According to this agreement MNK will be acquiring QCOR through a transaction worth up to $5.6 billion. This transaction has already been approved by the Directorial Boards of both the firms.<\/p>\n
The transaction will take place under the customary conditions and for now the firms are expecting to completion of the transaction in the third quarter this year.<\/p>\n
Transaction details:<\/b><\/p>\n
As per the terms and conditions transaction, the shareholders of QCOR will be receiving an amount of $30.00 in cash for each share and also 0.897 MNK\u2019s shares for every QCOR\u2019s share they own on common stock, which can be approximately considered to be $86.10 on each QCOR\u2019s share.<\/p>\n
After the merging of the two firms, former QCOR\u2019s shareholders will have about 49.5% and Mallinckrodt PLC (NYSE:MNK)\u2019s <\/b>shareholders will have about 50.5% of the total stocks of both the firms.<\/p>\n
QCOR commercials will be able to operate as a separate unit under MNK after this transaction. The agreement is also expected to generate strong flow of cash which would help both the firms to decrease their leverages.<\/p>\n
Firm\u2019s outlook:<\/b>\u00a0<\/b><\/p>\n
The Chief Exec Officer and President of Questcor Pharmaceuticals Inc (NASDAQ:QCOR), Don M. Bailey said that this transaction is expected to create a substantial growth for the employees, shareholders, patients and customers of the firm. He also added that the merger is expected to deliver even better service and will also allow the shareholders of QCOR to actively participate in the firm\u2019s growth.<\/p>\n
The CEO and President of Mallinckrodt PLC (NYSE:MNK), Mark Trudeau said that the merger will provide the firms with platforms to grow and expand in future. Both the firms together will be able to provide a wider range of services and some new services like therapy for pain management, central nervous system, inflammatory disorder, renal, autoimmune disorders and rheumatologic disorders.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/10\/2014 (wallstreetpr) –\u00a0Questcor Pharmaceuticals Inc (NASDAQ:QCOR) along with Mallinckrodt PLC (NYSE:MNK) made an announcement on April 7, 2014 that the two firms have […]<\/p>\n","protected":false},"author":13,"featured_media":19151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[4549,5903,4550,5902],"stock_ticker":[],"class_list":["post-19272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-mallinckrodt-plc-nysemnk","tag-nasdaqqcor","tag-nysemnk","tag-questcor-pharmaceuticals-inc-nasdaqqcor","entry"],"acf":[],"yoast_head":"\n