Cosette's Mayne Pharma escape act takes another twist as buyers circle Adelaide plant
Potential buyers are eyeing Mayne Pharma’s Adelaide factory at the centre of its takeover saga, giving investors hope the deal could still be salvaged.
The battle to thwart Cosette Pharmaceuticals’ daring escape from a $600 million-plus acquisition of Mayne Pharma has taken another twist, with buyer interest in its Adelaide factory giving investors a glimmer of hope that the deal could be salvaged.
Sources close to the situation told Capital Brief multiple potential buyers have been circling Mayne's Adelaide facility, which has been valued at up to $100 million and which Cosette said it would shutter if forced to complete the takeover of the ASX-listed company. The sources spoke on the condition of anonymity because the process is confidential.
Prominent fund manager Anton Tagliaferro’s private investment company TGI Holdings has been mentioned in several conversations as one of the possible interested parties. Tagliaferro did not respond to enquiries from Capital Brief and TGI declined to comment, but one person close to the situation suggested it was not a bidder.
TGI would join small-cap pharmaceuticals manufacturer IDT Australia as a possible acquirer of the facility. The Financial Review first reported IDT's interest in the asset.
