The U.S. Bankruptcy Court for the District of Delaware confirmed Mallinckrodt’s plan of reorganization, paving the way for the company to begin the next stage in its reorganization process.
AlixPartners is serving as restructuring advisor to Mallinckrodt, which initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to modify its capital structure, including restructuring portions of its debt.
Mallinckrodt entered into an agreement to merge Sun Acquisition and Sucampo Pharmaceuticals. Deutsche Bank agented a $900 million revolving credit facility to support the transaction.
Mallinckrodt agreed to acquire biopharmaceutical company Sucampo Pharmaceuticals, including its commercial and development assets, for $1.2 billion. The transaction was approved by the boards of directors of both companies.