Mallinckrodt To Acquire Therakos In $1.325 Bln Deal

(RTTNews) - Specialty biopharmaceutical company Mallinckrodt plc (MNK) Monday announced a definitive agreement with global investment firm Gores Group to acquire immunotherapy company Therakos, Inc. in a deal worth $1.325 billion. Mallinckrodt will enter into the deal through a subsidiary.

The transaction is expected to be accretive by no less than $0.10 per share to Mallinckrodt's adjusted fiscal 2016 earnings and increasingly accretive thereafter. The transaction will be completed in the latter part of the third calendar quarter of 2015 or Mallinckrodt's fourth fiscal quarter.

Therakos is engaged in autologous immune cell therapy delivered through extracorporeal photopheresis or ECP, and is focused on providing innovative treatment platforms.

Mark Trudeau, President and Chief Executive Officer of Mallinckrodt said, "This transaction demonstrates our ongoing commitment to building a strong, highly profitable Hospital growth business as we build and diversify Mallinckrodt's Specialty Brands portfolio."