09:09 AM EDT, 03/13/2025 (MT Newswires) -- Mallinckrodt and Endo said Thursday that they have agreed to combine in a stock and cash deal valued at $6.7 billion.

The companies said Endo stockholders will receive $80 million in cash and own 49.9% of the combined company on a pro forma basis, while Mallinckrodt shareholders will own 50.1% of the new entity.

Mallinckrodt will continue to remain as the holding company for the combined business and Endo will become its unit, the companies said.

The parties said they expect to complete the deal, which has already been approved by their boards, in H2, adding that the companies will fund the deal with cash on hand and $900 million of committed financing by Goldman Sachs ( GS ) to Endo.

The companies said they plan to integrate their generic pharmaceuticals businesses and Endo's sterile injectables business after the deal closes, but will later separate those operations from the combined entity.

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