Mallinckrodt and Endo, drugmakers which recently emerged from bankruptcy after a wave of U.S. opioid lawsuits, announced plans Thursday to join forces in a deal valued at $6.7 billion. Mallinckrodt Chief Executive Siggi Olafsson said the companies' operations and products complement each other.

KEY TAKEAWAYS Dublin-headquartered Mallinckrodt is taking over smaller rival Endo and planning to list the combined firm on the New York Stock Exchange, the two drugmakers said Thursday.The new firm will have a pro forma enterprise value of $6.

Mallinckrodt Pharmaceuticals and Endo Inc. are exploring a potential merger that could be valued at about $7 billion, people with knowledge of the matter said.