Mayne Pharma Group

The Mayne Pharma vs Cosette takeover saga and ensuing legal battles have already reshaped Australian M&A. The latest, precedent-testing lawsuit could do so again.

Mayne is considering a split of its operations to help shareholders recover from unrealised losses after Cosette’s $600 million takeover deal collapsed in December.

The two companies have both issued termination notices, but which one is valid remains up for debate.

One prominent shareholder is threatening a class action lawsuit and others are furious after a sale of the pharmaceuticals business to America's Cosette was blocked on national interest grounds.

In response to a question from Capital Brief, the treasurer argued the predicament facing reluctant suitor Cosette Pharmaceuticals was unlikely to be a common one.

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 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.

Behind the scenes of the courtroom clash that almost killed Mayne Pharma’s $615 million takeover — and the lawyers who pulled it back from the brink.

After three weeks in court, Mayne Pharma and Cosette Pharmaceuticals await a ruling that could decide their $672m deal’s fate, with FIRB approval still pending.

Investors and lawyers say US-based Cosette's attempt to back out of a takeover of Mayne Pharma will reshape the way deals are done on the ASX whether it succeeds or not.