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.

Ireland’s Mallinckrodt will buy U.S. drugmaker Endo in a cash-and-stock deal valued at $6.7 billion. The companies said Thursday that Endo shareholders will receive a total of $80 million in cash and own nearly 50% of the combined company. Mallinckrodt shareholders will have a stake of slightly more than 50%.

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.