Mallinckrodt Nellcor Puritan Bennett Line Breathes New Air Into Tyco

Tyco International's decision to account for its $4.2 bil. stock acquisition of Mallinckrodt as a purchase rather than a pooling-of-interests transaction, gives the company the flexibility to divest Mallinckrodt's imaging drugs and bulk pharmaceuticals businesses and concentrate on the fast-growing respiratory products division.