company, on Tuesday announced that it has completed the acquisition of Mallinckrodt Inc.

Under the terms of the merger agreement, Mallinckrodt shareholders will receive .9384 shares of Tyco common stock for each share of Mallinckrodt owned.

The transaction is valued at approximately $4.2 billion. Mallinckrodt, which had 1999 revenues of $2.6 billion, has major positions in respiratory care, diagnostic imaging and analgesic pharmaceuticals.

"The Mallinckrodt acquisition will be immediately accretive to Tyco'searnings,'' according to L. Dennis Kozlowski, Tyco's Chairman and Chief Executive Officer.

"It offers consolidation opportunities as well as significant manufacturing, purchasing and distribution synergies. Our past acquisitions in Tyco Healthcare have achieved strong top line growth and operating efficiencies.

The acquisition of Mallinckrodt also will provide ongoing positive benefits to Tyco shareholders. Tyco has a strong history of success in building leadership positions in the healthcare industry. Tyco Healthcare has grown to be a powerful force in disposable medical supplies and medical devices through previous acquisitions of such industry brands as Kendall, United States Surgical, Auto Suture, Sherwood, Davis & Geck, Graphic Controls and ValleyLab.