Jul 12, 2026 – 3.36pmThe battle for Mayne Pharma was a headline grabber in 2025: a dramatic intervention by the treasurer, a high-stakes manoeuvre at the Takeovers Panel and much hand-wringing over the application of material adverse change clauses.But since the collapse of Cosette’s $672 million bid in October, bupkis, bar courtroom stoushes over legal costs.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Mayne Pharma investors eye break-up as shares languish
2025’s takeover target has found itself in the graveyard of unloved stocks and shareholders are looking for a way out.
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