Mallinckrodt and Endo, drugmakers with a shared history of bankruptcy and U.S. opioid litigation, will merge in a deal valued at nearly $7 billion to boost scale for selling their branded drugs. Endo shareholders will get $80 million in cash and own 49.

Mallinckrodt and Endo are merging in a $6.7 billion deal, with a pro forma NYSE listing and $900 million in financing.

The new entity will be listed on the New York Stock Exchange and is expected to generate pro forma revenue of $3.6 billion in 2025 and at least $150 million of annual operating synergies by year three.