Mayne Pharma’s $7.40 Per Share Deal Moves Forward After Court Win
Mayne Pharma has won a key legal battle against Cosette Pharmaceuticals, clearing the way for its acquisition scheme to proceed pending final approvals. Shareholders can expect the deal to move forward with payments scheduled soon.
- Supreme Court of New South Wales rules in favour of Mayne Pharma
- Cosette Pharmaceuticals’ claims dismissed, scheme termination rejected
- Scheme implementation expected by 23 October 2025
- Share suspension and shareholder payments planned early November
- Final approvals from FIRB and second court hearing still pending
Legal Victory Clears Major Hurdle
Mayne Pharma Group Limited has secured a significant win in its ongoing acquisition saga with Cosette Pharmaceuticals. The Supreme Court of New South Wales dismissed Cosette’s attempt to terminate the scheme of arrangement, a move that had threatened to derail the $7.40 per share takeover offer. This ruling marks a pivotal moment, reaffirming Mayne Pharma’s position and allowing the acquisition process to move forward.
Next Steps Toward Scheme Implementation
With the court’s decision delivered on 15 October 2025, Mayne Pharma is now set to push ahead with the scheme’s implementation. Key conditions remain, notably the Foreign Investment Review Board’s (FIRB) approval and a second court hearing scheduled for 22 October. Assuming these approvals come through without delay, the scheme is anticipated to become effective on 23 October, triggering the suspension of Mayne Pharma shares from ASX trading.
Impact on Shareholders and Market
Shareholders holding Mayne Pharma stock as of 7 – 00pm AEDT on 27 October 2025 will be entitled to the scheme consideration of $7.40 per share. Payments are expected to be made around 3 November, marking the financial conclusion of this chapter. This timeline provides clarity and certainty for investors who have been watching the drawn-out acquisition process closely.
Broader Implications for Mayne Pharma
Beyond the immediate financial impact, this legal outcome strengthens Mayne Pharma’s strategic position in the specialty pharmaceuticals sector. The company’s focus on dermatology and women’s health, combined with its contract development and manufacturing capabilities, positions it well for future growth under Cosette’s ownership. However, the finalisation of the deal still hinges on regulatory and judicial approvals, underscoring the cautious optimism surrounding the transaction.
Looking Ahead
As Mayne Pharma prepares for the next court hearing and awaits FIRB’s decision, market participants will be closely monitoring these developments. The company has committed to keeping investors informed, but the coming week will be critical in determining whether this acquisition can finally be sealed.
Bottom Line?
Mayne Pharma’s legal win sets the stage, but final approvals will decide if the acquisition deal truly closes.
Questions in the middle?
- Will FIRB approval be granted without conditions or delays?
- Could the second court hearing introduce new challenges or objections?
- How will the market react once Mayne Pharma shares are suspended and payments commence?
