New Mountain Capital Affiliate Buys Mallinckrodt Baker For About $280 Million

New Mountain Capital LLC bought Mallinckrodt Baker Inc. from Covidien for about $280 million through an affiliate. Raj Gupta will serve as chairman of Mallinckrodt Baker, a New Jersey-based chemicals maker and marketer that generated sales of $414 million for fiscal 2009. Gupta, a senior advisor at New Mountain, was chairman and CEO of Rohm and Haas.

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