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Joele Frank is handling the Chapter 11 filing of Mallinckrodt as the pharmaceutical company seeks to ease pressure from claims arising from the opioid crisis.
Mallinckrodt is using the bankruptcy to iron out a $1.6B deal with state and local governments to settle the claims made by thousands of plaintiffs.
CEO Mark Trudeau said the company worked diligently during the past several months to evaluate available options "to achieve a comprehensive resolution to the significant litigation and debt issues overhanging our business.”
The board and management determined that Chapter 11 offered the “best opportunity to maximize the value of the enterprise and position the company for the future in light of the current challenges it faces,” he added.
Joele Frank, Wilkinson Brimmer Katcher has Michael Freitag, Aaron Palash and Aura Reinhard on the Mallinckrodt case.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group handles Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
Collected Strategies handles Exact Sciences as the cancer screening leader is acquired by Abbott in a deal with an enterprise value of $23B.
