Mallinckrodt Exploring Potential $1 Billion Sale Of Its Nuclear Unit

Mallinckrodt PLC (NYSE: MNK) has hired advisers to explore a potential sale of its nuclear imaging division.

Bloomberg, citing "people familiar with the matter," reported Mallinckrodt's division could fetch between $800 million and $1 billion in a potential deal. The publication added the company has identified buyers that may be interested in acquiring the unit.

Bloomberg also noted that Mallinckrodt's nuclear imaging division realized $424 million in net sales throughout fiscal 2015, representing approximately 11 percent of the company's total sales.

Mallinckrodt's stock showed no trades early Thursday morning and lost 2.4 percent to close at $59.89 on Wednesday.