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Australia blocks $672M U.S. takeover of Mayne Pharma over national interest concerns.
The Australian government has blocked a $672 million U.S. takeover of Mayne Pharma, citing national interest concerns over threats to critical medicine supply, 200 jobs, and sovereign research capabilities.
Treasurer Jim Chalmers upheld advice from the Foreign Investment Review Board and multiple federal and state agencies that no conditions could mitigate the risks, particularly after U.S. firm Cosette threatened to close Mayne’s Adelaide factory.
The decision ends months of uncertainty, following a failed Supreme Court attempt to force the sale and a sharp drop in Mayne’s share price.
Trading was halted ahead of the announcement, and shares fell over 20% to $4.60.
Australia bloquea la adquisición de Mayne Pharma por 672 millones de dólares en Estados Unidos por preocupaciones de interés nacional.