Mayne buyer gets cold feet

Posted 22 May 2025 AM

Mayne's suitor is getting cold feet, listing a number of recent announcements to revisit the deal to buy the Australian company, and threatening to walk if it's not happy with the consultation.

The embattled pharma came out of a trading halt with the news that Cosette, which agreed to buy Mayne Pharma for $672 million at $7.40 a share in February, had sent correspondence claiming that a 'material adverse event' had occurred, triggering a period of good-faith consultation for 10 business days -  a precondition to a party terminating the deal.

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