(Reuters) - Mallinckrodt and Endo, drugmakers with a shared history of facing U.S. opioid litigation, have agreed to merge in a deal valued at nearly $7 billion.

Under the terms of the agreement, Endo shareholders will get $80 million in cash and own 49.9% of the combined company on a pro forma basis, the companies said on Thursday.

Mallinckrodt shareholders will own 50.1% of the combined company for an implied pro forma enterprise value of $6.7 billion.

The combined company is expected to be listed on the New York Stock Exchange.

Mallinckrodt and Endo plan to combine their generic pharmaceuticals businesses and Endo's sterile injectables business after the close of the deal and intend to separate that business from the combined company at a later date.

(Reporting by Sneha S K and Sriparna Roy in Bengaluru; Editing by Devika Syamnath)