Chalmers all but kills Mayne Pharma takeover bid

Chalmers all but kills Mayne Pharma takeover bid

Pharmaceutical giant Cosette looks set to win its long-running battle to back out of its $672 million bid for Mayne Pharma after Jim Chalmers intervened.

Closing Bell: ASX staggers into weekend as Mayne gets mauled and gold comes back to life

ASX closes 3.60 points lower after falling in afternoon session Mayne Pharma falls ~32% after Australian government opposes proposed takeover ASX gold stocks lead materials sector higher after bullion prices rebound 2% overnight    The ASX has closed 3.60 points lower after fluctuating in afternoon trade and losing ground towards quitting time. The ASX 200 fell from a position of relative strength at +0.45% at lunchtime. Gold is glittering once …

Treasurer to Block Mayne Pharma Takeover

Treasurer Jim Chalmers has signalled his intention to block the $672 million takeover bid by US pharmaceutical company Cosette for Adelaide-based Mayne Pharma. The decision is based on concerns that the acquisition would negatively impact the Australian economy. Mayne Pharma is an Australian company that develops and manufactures a range of pharmaceutical products. Cosette specialises in dermatology and extended topical products. According to Ma…

Mayne Pharma Collapses 30% as Treasurer Flags National-Interest Block in Cosette Deal

Mayne Pharma in Freefall: Regulatory Hurdle Threatens $672 m Buy-out Mayne Pharma (ASX: MYX) has suddenly become one of the most talked-about stocks on the ASX after the federal Treasurer raised serious national-interest concerns about its proposed takeover by Cosette Pharmaceuticals. The company that looked like it was on the cusp of being acquired is now…

Mayne Pharma plummets -30% as foreign review board rejects Cosette buyout

Mayne Pharma (ASX:MYX) has revealed a letter from Australian Treasurer Jim Chalmers, sent to U.S.-based pharma giant Cosette, has outlined the government (via the FIRB) intend to reject the takeover deal, particularly because Cosette wants to shut down a Mayne-owned pharma manufacturing facility in Adelaide. Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Ap…

All Ords drug maker’s shares plunge 30% on takeover troubles

Mayne Pharma shares have fallen by more than 30% on news that the Treasurer could block US company Cosette's takeover of the Australian firm.