Chalmers Rejects Mayne Pharma Takeover Bid
Treasurer Jim Chalmers has intervened in the $672 million bid for Mayne Pharma, indicating he will reject the takeover by US pharmaceutical giant Cosette.
The decision is based on concerns that the acquisition would hurt Australia's economy, particularly with regards to the potential sale or disposal of Mayne Pharma's Adelaide manufacturing plant.
Chalmers has raised concerns about Cosette's threat to sell or dispose of the company's Adelaide manufacturing plant, which employs about 200 people.
The rejection of the bid is a significant development in the long-running battle between Cosette and Mayne Pharma.
Author's summary: Chalmers rejects Cosette's bid for Mayne Pharma.
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