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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
February 17, 1995
Mallinckrodt Group Inc.
(Exact name of registrant as specified in its charter)
New York 1-483 36-1263901
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
7733 Forsyth Boulevard, St. Louis, MO 63105-1820
(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, (314)854-5200
including area code
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Item 5. Other Events
A press release was issued February 17, 1995. The relevant
portion of the text of that release was as follows:
MALLINCKRODT GROUP UNIT COMPLETES PURCHASE OF J.T. BAKER
ST. LOUIS, Mo., February 17, 1995 -- Mallinckrodt Group, Inc.
(NYSE:MKG) announced today that it has completed the acquisition of
J.T. Baker Inc., a manufacturer of laboratory, process and
microelectronic chemicals, from Richardson-Vicks, Inc., a subsidiary
of The Procter & Gamble Company. An agreement to purchase J.T. Baker
was signed on December 15, 1994 with completion of the transaction
contingent upon receiving normal governmental approval.
The cash-for-stock and debt-assumption transaction, totaling
$100 million, covers all of J.T. Baker's worldwide operations. Modest
earnings dilution resulting from acquisition accounting adjustments is
expected in the second half of the current fiscal year ending June 30,
1995.
"We're delighted to implement yet another component of our
strategy to build a premier specialty chemicals business through
product development, acquisitions, and strategic alliances," said C.
Ray Holman, Mallinckrodt Group chairman, president and chief executive
officer.
"The addition of J.T. Baker's approximately $140 million in
annual sales will nearly double the size of Mallinckrodt Chemical
Company's Performance and Laboratory Chemicals Division and allow us
to strengthen our business by leveraging technology and enhancing our
global business platform," said Mack G. Nichols, Mallinckrodt Chemical
president and chief executive officer.
Founded in 1904, J.T. Baker became a subsidiary of
Richardson-Vicks, Inc. in 1941. Richardson-Vicks was purchased by
Procter & Gamble in 1985. Procter & Gamble had previously cited the
lack of strategic fit between J.T. Baker's chemical business and
Procter & Gamble's consumer products focus as the reason for the sale.
Mallinckrodt Chemical, founded in St. Louis in 1867, is
headquartered in Chesterfield, Mo. Its product lines include
analgesics, medicinal narcotics, peptides, catalysts, and laboratory
chemicals. Mallinckrodt Chemical is the world's leading producer of
acetaminophen, the analgesic used in a number of over-the-counter pain
relievers, and is a joint venture partner in a worldwide flavors
business.
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Mallinckrodt Group Inc., a St. Louis-based Fortune 250
company with fiscal 1994 net sales of $1.94 billion, provides human
and animal health products and specialty chemicals through its three
international technology-based businesses -- Mallinckrodt Chemical and
Mallinckrodt Medical, both headquartered in the St. Louis area, and
Mallinckrodt Veterinary, headquartered in Mundelein, Ill.
Mallinckrodt Group and its subsidiaries have 10,200 employees
worldwide.
Mallinckrodt Group Inc.
ROGER A. KELLER
Vice President, Secretary
and General Counsel
DATE: March 1, 1995
