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Mallinckrodt to buy back shares

Jan. 23, 2015 1:42 PM ETMallinckrodt plc (MNKTQ) StockBy: Douglas W. House, SA News Editor3 Comments
  • The Board of Directors of Mallinckrodt (NYSE:MNK +1.5%) approves an open-ended $300M share repurchase program.
  • CEO Mark Trudeau says, "Funding additional initiatives and seeking attractive business development opportunities remain top priorities as we continue to pursue a range of focused growth strategies. This authorization reflects our strong financial position and commitment to a disciplined capital allocation strategy while reaffirming our confidence in the company's outlook and long-term potential. It also gives us the flexibility to execute share repurchases in a measured and opportunistic manner over time."

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