Mesoblast, Mallinckrodt deal

Mallinckrodt acquired a 5% stake in Mesoblast and obtained exclusive negotiation rights to two cell therapy candidates to treat low back pain and graft-versus-host disease (GvHD). Mallinckrodt will invest A$29.6 million ($21.6 million) through the purchase of 20 million Mesoblast shares at A$1.4761. The price is a 5.4% premium to Mesoblast's close of A$1.40 on Dec. 22, 2016, the day before the deal was announced. Mallinckrodt has an exclusive, nine-month negotiation period for rights to the two candidates worldwide, excluding Japan and China...