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Mallinckrodt open to proposed transactions as it struggles to pay opioid settlement; stock rallies

Clyde Edgerton by Clyde Edgerton
July 7, 2023
in Markets
Mallinckrodt open to proposed transactions as it struggles to pay opioid settlement; stock rallies
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Mallinckrodt PLC MNK shares surged in the extended session Thursday after the Dublin-based drug maker and distributor said it was open to proposed transactions as it keeps delaying a payment under an opioid settlement. Shares rallied as much as 15%, and were last up around 9% in late Thursday activity, following a 5.3% decline top close Thursday at $1.08 a share. Mallinckrodt said its board is “actively evaluating the company’s capital needs in light of its obligations under its opioid settlement and its long-term debt, and is considering options, including transactions that have been proposed by holders of various series…



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