DUBLIN - Saturday, February 2nd 2013 [BUSINESS WIRE/ ME NewsWire]
Covidien plc (NYSE: COV) today announced the initial filing by Mallinckrodt plc of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC) in connection with Covidien’s previously announced plan to spin off its Pharmaceuticals business.
"The filing of the Form 10 Registration Statement is an important milestone in our ongoing separation process," said José E. Almeida, Chairman, President and CEO. "As two distinct businesses, Covidien and Mallinckrodt will be better positioned to capitalize on significant growth opportunities and provide greater focus on their respective businesses and strategic priorities. We remain on track to complete the spin-off by mid-2013."
As previously announced, Covidien intends to spin off its Pharmaceuticals business through a distribution of Mallinckrodt shares which is expected to be tax-free to U.S. shareholders, except for cash re
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