IBA Molecular France, SA entered into a definitive agreement to acquire Mallinckrodt Nuclear Medicine LLC from Mallinckrodt Public Limited Company (NYSE:MNK) for approximately $690 million on August 24, 2016. Under the terms of the transaction, consideration of $690 million consists of approximately $574.2 million of up-front consideration, the assumption of approximately $39 million of long-term obligations, and approximately $77 million of contingent consideration to be paid in cash and preferred equity. In the event of termination, IBA will pay a fee of $35 million. The transaction is subject to approval from the U.S. Nuclear Regulatory Commission and the Committee on Foreign Investment in the United States, and clearance from relevant competition authorities. As of September 30, 2016, FTC approved the transaction. The transaction is expected to close prior to May 24, 2017. Ashish Chabria and Aryeh Sand of TAP Advisors LLC acted as financial advisor and Stephanie M. Hosler of Bryan Cave, LLP acted as the legal advisor to Mallinckrodt. Carlos Gil Rivas of Kirkland & Ellis International LLP acted as legal advisor to IBA Molecular. Jefferies International Limited acted as financial advisor for IBA Molecular France, SA. Gillian Holgate and Rakesh rathod of Allen & Overy LLP acted as legal advisors for Mallinckrodt Public Limited Company. Roger Johnson, Martin Di Lorento, Joel Arnell, Bradley Reed, Rachel Greenhalgh, Tushin Shah, Christopher Shield, Evgeny Zborovsky, Kirsteen Nicol, Duncan McKay, Tamsin Crawford, Paula Riedel, Sally Southwell, Annie Herdman, Daniel Lewis, Samual Hong of Kirkland & Ellis International LLP acted as legal advisor to IBA Molecular. IBA Molecular France, SA completed the acquisition of Mallinckrodt Nuclear Medicine LLC from Mallinckrodt Public Limited Company (NYSE:MNK) on January 27, 2017.