Australia's Mayne Pharma slides on US co's notice to scrap $432 mln deal
ReutersJun 4, 2025 5:23 AM
Mayne Pharma MYX.AX slides as much as 12.5% to A$4.14, lowest since November 21, 2024
Co gets purported notice to terminate $432 million acquisition offer from U.S.-based Cosette Pharmaceuticals
Says it intends to reject termination notice as invalid
Stock set for biggest intraday pct loss since May 21, when MYX posted its worst day in 16 years, plunging 30%, after Cosette initiated a review of its buyout offer
About 3.4 mln shares traded in stock's busiest day since May 21
MYX last down 5.7%, takes YTD losses to ~10%
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