'Effectively dead': Nervous dealmakers await Chalmers' final Mayne deal call
The Treasurer's surprise preliminary decision to block the acquisition of Mayne Pharma has upended a saga that already stood to reshape the way deals are done in Australia.
Australia’s dealmaking community is on tenterhooks waiting for confirmation on the ultimate fate of US-based Cosette Pharmaceuticals' unprecedented efforts to walk from an acquisition of Mayne Pharma.
But the one person they wanted to hear from this week, the man who will have the final say on the matter, has been uncharacteristically evasive.
Treasurer Jim Chalmers did not front the press following the RBA's interest rate decision on Tuesday, which conflicted with Question Time. He also did not respond to enquiries from Capital Brief on the issue.
His preliminary decision to block the deal on sovereign capability grounds after Cosette told the Foreign Investment Review Board (FIRB) it would close Mayne’s manufacturing facility in Salisbury, South Australia sent shockwaves through sections of the market.
