Thursday, May 27, 2010 12:33:48 PM
On May 26, 2010, Covidien plc (the “Company”) issued a press release announcing entry into a definitive agreement to sell its Specialty Chemicals business to an affiliate of New Mountain Capital, L.L.C. for a cash purchase price of $280 million.
The decision to divest Specialty Chemicals was made following a thorough evaluation of a number of strategic alternatives. The decision is consistent with Covidien’s strategy to streamline its portfolio and reallocate resources to its faster-growing, higher-margin businesses, where the Company has or can develop a global competitive advantage.
above quoted from the 8K filed on may 26th
the flollowing is IMO
step 1) sell radio pharnacies to Triad (should be closed by May 31
step 2) aquire or partner with a company with higher margin capability
(hopefully us)
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