Covidien's Mallinckrodt pharma spinout slated to close this month | Wall Street Beat

June 19, 2013 by Brad Perriello

Covidien's spinout of its Mallinckrodt pharmaceuticals business is slated to close later this month. Wall Street Beat

Covidien (NYSE:COV) said it expects to close its spinout of the Mallinckrodt pharmaceuticals business by the end of this month, with a distribution of shares in the new company.

Mansfield, Mass.-based Covidien said it will issue 1 single share of Mallinckrodt stock for 8 shares of COV stock to interested investors, will all distributions scheduled for completion by June 28.

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