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Mallinckrodt Nellcor Puritan Bennett Line Breathes New Air Into Tyco

This article was originally published in The Gray Sheet

Executive Summary

Tyco International's decision to account for its $4.2 bil. stock acquisition of Mallinckrodt as a purchase rather than a pooling-of-interests transaction, gives the company the flexibility to divest Mallinckrodt's imaging drugs and bulk pharmaceuticals businesses and concentrate on the fast-growing respiratory products division.
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