Australia's Mayne Pharma set to snap 4-session skid on pushing ahead with Cosette scheme

ReutersJun 5, 2025 12:56 AM

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Mayne Pharma Group MYX.AX rises 3.4% to A$4.63; set for steepest intraday pct gain since May 23

Stock on track to snap four consecutive sessions of losses

Co says U.S.-based Cosette's notice to scrap A$672 mln ($436.8 mln) deal not effective

Unanimously recommends shareholders to vote in favour of Cosette scheme

Adds it intends to proceed with the scheme meeting on June 18

More than 1.3 mln shares traded vs 30-day avg of 1.2 mln

MYX falls 9.7% this year, as of last close

($1 = A$1.5385)

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