December 26, 2017 / 12:20 PM / in a year

BRIEF-Mallinckrodt To Buy Sucampo Pharmaceuticals For About $1.2 Bln

Dec 26 (Reuters) - Mallinckrodt Plc:

* MALLINCKRODT TO ACQUIRE SUCAMPO PHARMACEUTICALS FOR APPROXIMATELY $1.2 BILLION

* MALLINCKRODT - ‍TRANSACTION WAS APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES​

* MALLINCKRODT PLC - MALLINCKRODT TO COMMENCE CASH TENDER OFFER FOR $18.00 PER SHARE, WITH SUPPORT FROM KEY SUCAMPO SHAREHOLDERS

* MALLINCKRODT SAYS EXPECTS ACCRETION TO 2018 ADJUSTED DILUTED EARNINGS PER SHARE OF AT LEAST $0.30 AS RESULTS OF DEAL

* MALLINCKRODT - DEAL EXPECTED TO BE FUNDED THROUGH BORROWINGS UNDER CO'S EXISTING REVOLVING CREDIT FACILITY, NEW SECURED TERM LOAN FACILITY, CASH ON HAND

* MALLINCKRODT PLC - FOLLOWING DEAL, CO INTENDS TO UTILIZE "SIGNIFICANT" CASH GENERATION TO FOCUS ON REDUCING OUTSTANDING DEBT OVER TIME

* MALLINCKRODT SAYS EXPECTS ACCRETION TO 2018 ADJUSTED DILUTED EPS OF AT LEAST $0.30; AT LEAST DOUBLE THAT IN 2019, ASSUMING DEAL CLOSES IN Q1 2018 Source text for Eikon: Further company coverage:

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