Late on a Saturday night in May, Gilbert + Tobin litigation partner Alex Whitby heard her phone ping.
Whitby had been working on the sale of Mayne Pharma to US-based Cosette Pharmaceuticals, a $615 million — or $7.40 a share — buyout announced in February.
It was a decent premium on a stock that had hovered around $4.20 to $4.50 for months. Mayne shares quickly rose to over $7 after the parties signed a scheme of implementation deed (SID).
“We were in court on 15 May for the first court hearing in relation to this transaction. And at that time, everybody was all friendly,” says Whitby.
