This article was originally published in The Gray Sheet
Executive SummaryMallinckrodt parent expects to record a pretax restructuring charge of about $325 mil. in the fourth quarter (ending June 30). The restructuring will take about two years to complete and will focus primarily on the Northbrook, Illinois-based firm's ailing Pitman-Moore animal health care unit. The firm announced in March that it expected to take a "significant restructuring charge" ("The Gray Sheet" March 29, p. 13).
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